DaVita, Inc. (DVA)


DaVita, Inc.
Stock Symbol: DVA
Class Period: 08/05/2015 - 10/21/2016
Status: New Case

The action alleges that DaVita made false and misleading statements regarding the Company’s revenues and the sustainability of its business. Specifically, defendants: (1) failed to disclose that DaVita improperly steered patients into unnecessary private insurance plans; (2) failed to disclose that the Company improperly used a charity organization as a conduit to facilitate the scheme; and (3) as a result, the Company’s statements regarding its internal controls over financial reporting and its business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

IMPORTANT INVESTOR ALERT: JFJN LAW Announces Securities Class Action Lawsuit Against DaVita Inc.

GARDEN CITY, NY –March 16 – JFJN Law (the “firm) announces the filing of a class action lawsuit against DaVita Inc. (“DaVita” or the “Company”) (NYSE: DVA). Investors who purchased or otherwise acquired shares between August 5, 2015 and October 21, 2016 inclusive (the “Class Period”) are encouraged to contact the Firm in advance of the April 3, 2017 lead plaintiff motion deadline.

If you purchased shares of DaVita during the Class Period, please contact Justin Frankel, Esq., of JFJN Law, 1-888-459-0507 or jcf@jfjnclassaction.com before April 3, 2017.

There has not been a class certification of this case yet. Until certification occurs, you are not represented by an attorney. You may take no action and remain a passive class member.

DaVita provides kidney dialysis services for patients suffering from chronic kidney failure or end-stage renal disease (“ESRD”). The Company made contributions to the American Kidney Fund (“AKF”) a not for profit organization that offers financial assistance for kidney dialysis patients.

 

On August 18, 2016, The Centers for Medicare & Medicaid Services (“CMS”) issued a public request for information regarding alleged steering of Medicare and Medicaid beneficiaries into other plans in order to earn higher reimbursement rates. In reaction to the disclosure about the CMS inquiry into the industry and the potential rule changes, DaVita’s stock price dropped.

 

DaVita’s stock dropped further following an article in The St. Louis Post (October 23, 2016) that accused DaVita of steering clients to private insurers and using its own money to pay for health insurance premiums through the American Kidney Foundation.

On January 6, 2017 The Wall Street Journal reported that DaVita had received subpoenas from federal prosecutors for “the production of information related to charitable premium assistance” regarding the company’s relationship with the American Kidney Fund. The value of DaVita stock fell when this information became public, causing investors harm.

Throughout the Class Period, Defendants made false and/or misleading statements, and/or failed to disclose material adverse facts about the Company’s business, operations, and prospects.

 

If you have any questions about this notice, or wish to learn more about this class action lawsuit, contact Justin Frankel, Esq., by phone at 1-888-459-0507 or by email jcf@jfjnclassaction.com before April 3, 2017.

This press release may be considered Attorney Advertising in some jurisdictions.

Contact:

Justin C. Frankel, Esq.

Toll-Free Telephone: 1-888-459-0507
Telephone:         516-493-9420

Email:          jcf@jfjnclassaction.com

Facsimile:   516-493-9421






warning
FREE Case Evaluation: If you have suffered a loss as the result of corporate fraud or misconduct, contact JFJN Class Action today to find out how we can help.

If you prefer, contact us at info@jfjnclassaction.com, call toll-free 888-459-0507 to speak with our office directly, or fill out the Contact Us form.