Possible settlement in class action involving ARA and stockholders -
The U.S. District Court for the District of New Jersey will consider a proposed settlement of class action case involving individuals who purchased common stock in American Renal Associates between Aug. 10, 2016 and Mar. 27, 2019. It’s alleged the defendants made false statements concerning ARA’s financial results, including that they were prepared in compliance with GAAP and the adequacy of their internal controls. If approved, the settlement would result in a payout of $5,775,000, plus interest and minus attorney fees and other expenses, to the class. The hearing to discuss the proposed settlement is set for Jan. 12.
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