American Renal Associates Holdings, Inc. Announces Settlement of Shareholder Derivative Litigation
April 20 2018 - 4:30PM
Business Wire
American Renal Associates Holdings, Inc. (NYSE: ARA) (the
“Company”), a leading provider of outpatient dialysis services, is
pleased to announce that the Company has received preliminary
approval of the settlement of a stockholder derivative action
brought by Plaintiff Stephen Bushansky, and pending in the United
States District Court for the District of Massachusetts (case
number No. 17-cv-12091) (the “Bushansky Action”). The proposed
settlement releases all claims asserted against the Company and the
other named defendants in the Bushansky Action without any
liability or wrongdoing attributed to them. The proposed settlement
remains subject to court approval and other customary
conditions.
Current shareholders may access a notice describing the proposed
settlement and the agreement setting forth its terms on the
Company’s Investor Relations webpage. Visit
http://ir.americanrenal.com/ for more information.
The Company issued the following statement regarding the
proposed settlement:
The Company is pleased to have reached an agreement with the
plaintiff, and we believe the settlement is in the best interests
of our shareholders. The Company looks forward to bringing this
matter to a close so that we can continue to focus on delivering
high quality dialysis services and building further on the success
of our differentiated physician-driven partnership model.
About American Renal Associates
American Renal Associates (“ARA”) is a leading provider of
outpatient dialysis services in the United States. As of December
31, 2017, ARA operated 228 dialysis clinic locations in 26 States
and the District of Columbia serving approximately 15,600 patients
with end stage renal disease. ARA operates principally through a
physician partnership model, in which it partners with
approximately 400 local nephrologists to develop, own and operate
dialysis clinics. ARA’s Core Values emphasize taking good care of
patients, providing physicians with clinical autonomy and
operational support, hiring and retaining the best possible staff
and providing a full suite of management services. For more
information about American Renal Associates, visit
www.americanrenal.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All forward-looking statements included in this release,
including expectations about the settlement of the Bushansky Action
are based upon information available to the Company as of the date
of this release, which may change. These statements are not
guarantees of future performance and actual results could differ
materially from the Company’s current expectations. Factors that
could cause or contribute to such differences include the risks and
uncertainties described in “Risk Factors” and “Special Note
Regarding Forward-Looking Statements” in our Annual Report on Form
10-K for the year ended December 31, 2017, as well as the
possibility that the court may fail to approve the terms of the
settlement. The Company assumes no obligation and does not intend
to update the forward-looking statements provided, whether as a
result of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20180420005008/en/
American Renal Associates Holdings, Inc.Darren Lehrich,
978-522-6063SVP Strategy & Investor
Relationsdlehrich@americanrenal.com
American Renal Associates (NYSE:ARA)
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