DaVita Inc. (NYSE: DVA) Investor Investigation Over Potential Wrongdoing Announced

Investors who purchased shares of DaVita Inc. (NYSE: DVA) and currently hold any of those NYSE: DVA shares have certain options and should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, 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
Affected Securities: 
NYSE: DVA

An investigation on behalf of current long-term investors in shares of DaVita Inc. (NYSE: DVA) was announced over potential breaches of fiduciary duties by certain officers and directors at DaVita Inc.

The investigation by a law firm concerns whether certain DaVita Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

DaVita Inc. reported that its annual Total Revenue rose from over $10.69 billion in 2016 to over $10.88 billion in 2017 and that its Net Income declined from $879.87 million in 2016 to $663.16 million in 2017.

On October 1, 2018, the U.S. Department of Justice (“DOJ”) announced that DaVita Medical Holdings agreed to pay $270 million to resolve allegations of Medicare billing fraud. The settlement follows purported inaccurate coding practices by HealthCare Partners, one of DaVita's physician networks. HealthCare Partners allegedly advised its doctors to use an improper diagnosis code for a spinal condition that boosted Medicare reimbursements. The settlement also resolves allegations by a whistleblower that HealthCare Partners searched its patients' medical records for diagnoses its providers may have failed to record, and then submitted these "missed" diagnoses in order to obtain increased Medicare payments.

Shares of DaVita Inc. (NYSE: DVA) declined from $75.43 per share on October 1, 2018 to as low as $65.99 per share on October 17, 2018.