Davita Inc (NYSE:DVA) Investor Securities Class Action Lawsuit 02/01/2017

If you purchased a significant amount of shares of Davita Inc (NYSE:DVA) between August 5, 2015 and October 21, 2016, and / or if you purchased any NYSE:DVA shares prior to August 2015 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: April 3, 2017. NYSE:DVA investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
DaVita
Case Name: 
DaVita Shareholders Class Action Lawsuit 02/01/2017
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: DVA
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
02/01/2017
Class Period Begin: 
08/05/2015
Class Period End: 
10/21/2016
Court of Filing: 
U.S. District Court for the District of Colorado
Deadline To File for Lead: 
04/03/2017
Summary: 

February 1, 2017 (Shareholders Foundation) - An investor in shares of Davita Inc (NYSE:DVA) filed a lawsuit in the U.S. District Court for the the District of Colorado over alleged violations of Federal Securities Laws by Davita Inc in connection with certain allegedly false and misleading statements made between August 5, 2015 and October 21, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of Davita Inc (NYSE:DVA) common shares between August 5, 2015 and October 21, 2016, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between August 5, 2015 and October 21, 2016, the defendants made false and/or misleading statements and/or failed to disclose that the Company and its senior executives purposefully steered patients into unnecessary insurance plans in order to maximize profits, that the Company was using American Kidney Fund as a vehicle to facilitate these improper practices, that as a result, DaVita's revenues and profits were illegally obtained, that in turn, DaVita lacked effective internal controls over financial reporting, and that as a result of the foregoing, Defendants' statements about DaVita's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

On August 18, 2016, The Centers for Medicare & Medicaid Services issued a public request for information regarding the alleged steering of Medicare and Medicaid beneficiaries into other plans in order to earn higher reimbursement rates.

On October 23, 2016, an article was published entitled "DaVita encouraged some low-income patients to enroll in commercial plans" which directly accused Davita Inc of steering clients to private insurers and utilizing its own money to pay for health insurance premiums through the American Kidney Fund. Shares of Davita Inc declined from $78.18 per share in July 2016 to as low as $54.50 per share on October 28, 2016

On January 6, 2017, after the close of trading, an article was published revealing that Davita Inc allegedly had received subpoenas from federal prosecutors seeking “the production of information related to charitable premium assistance” in connection with Davita Inc’s ties to the American Kidney Fund, a charity that helps patients pay for kidney dialysis.