If you purchased or acquired American Renal Associates Holdings, Inc. (“ARA” or the “Company”) common stock between August 10, 2016 and March 27, 2019, inclusive (the “Class Period”), you could get a payment from a proposed class action settlement (the “Settlement”).
TO CLAIM YOUR SHARE OF THE SETTLEMENT FUND, YOU MUST SUBMIT A VALID PROOF OF CLAIM POSTMARKED ON OR BEFORE JANUARY 4, 2021.
December 8, 2020 — Exclusion Deadline (received by)
December 22, 2020 — Objection Deadline (received by)
January 4, 2021 — Claim Form Filing Deadline (postmarked by)
January 12, 2021 — Settlement Hearing
- If approved by the Court, the Settlement will provide five million seven hundred seventy-five thousand dollars ($5,775,000) (the “Settlement Amount”) gross, plus interest as it accrues, minus attorneys’ fees, costs, administrative expenses, Award to Plaintiff, and net of any taxes on interest, to pay claims of investors who purchased or acquired ARA common stock during the Class Period. The Court is scheduled to hold a Settlement Hearing on January 12, 2021 to decide whether to approve the Settlement. Please Note: The date and time of the Settlement Hearing may change and/or it may be held by teleconference or videoconference, without further written notice to the Class. You should monitor the Court’s docket and this website maintained by the Claims Administrator, www.AmericanRenalSecuritiesLitigation.com, before making plans to participate in the Settlement Hearing. You may also confirm the date, time, and method of the Settlement Hearing by contacting Class Counsel by phone at 212-279-5050 or by email at firstname.lastname@example.org.
- Your recovery will depend on the number of shares of ARA common stock you, and other Settlement Class Members who file claims, purchased and sold, and the prices at which you, and the other Settlement Class Members who file claims, purchased and sold those shares. If claims are submitted for 100% of the eligible shares of ARA common stock, the estimated average recovery per share of common stock will be approximately $0.37 per share before deduction of Court-approved fees, expenses and any Award to Plaintiff, and costs of notice and claims administration. This estimate solely reflects the average recovery per share of ARA common stock. It is not an estimate of the actual recovery per share you should expect. The actual amount per share you receive will depend on a number of factors, including the aggregate losses of all Settlement Class Members and other factors that are explained in the Plan of Allocation, below.
- Attorneys for Plaintiffs (“Plaintiffs’ Counsel”) have not received any payment for their work or reimbursement for expenses incurred in investigating the facts, conducting this litigation and negotiating the Settlement on behalf of the Lead Plaintiff and the Settlement Class (together, “Plaintiffs”). Plaintiffs’ Counsel intends to ask the Court to award them fees of up to 30% plus interest of the Settlement Amount ($1,732,500.00), reimbursement of litigation expenses of no more than $100,000.00 and an Award to Plaintiff not to exceed $7,500.00. Collectively, the attorneys’ fees, reimbursement of expenses and Award to Plaintiff are estimated to average approximately $0.12 per share. If approved by the Court, these amounts will be paid from the Settlement Fund.
- The Settlement fully and finally resolves the Action (defined below) which claims that defendants (i) ARA, and (ii) Joseph A. Carlucci, Jason M. Boucher and Jonathan L. Wilcox (the “Individual Defendants”) (collectively, ARA and the Individual Defendants are the “Defendants”), allegedly violated federal securities laws by making misrepresentations and/or omissions of material fact during the Class Period regarding ARA that purportedly had the effect of artificially inflating the price of ARA common stock. Specifically, Plaintiffs allege in the Complaint, among other things, that during the Class Period, Defendants misled investors by issuing financial statements that did not comply with Generally Accepted Accounting Principles (“GAAP”) and ultimately were restated, including statements regarding the effectiveness of its internal accounting controls. Defendants have denied and continue to deny to the fullest extent possible each, any and all allegations of wrongdoing, fault, liability or damage whatsoever asserted by Plaintiffs and maintain that their statements were materially accurate and honestly made. Defendants have also denied, inter alia, allegations that Lead Plaintiff or the Settlement Class have suffered damages or that Lead Plaintiff or the Settlement Class were harmed by the conduct alleged in the Action. Defendants continue to believe the claims asserted against them in the Action are without merit.
- Your legal rights will be affected whether you act or do not act. If you do not act, you may permanently forfeit your right to recover on this claim. Therefore, you should read this Notice carefully.
|YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT|
SUBMIT A CLAIM FORM NO LATER THAN
|The only way to get a payment.|
EXCLUDE YOURSELF NO LATER THAN
|Get no payment. This is the only option that allows you to ever be part of any other lawsuit against the Defendants or the other Defendants’ Releasees concerning the Released Plaintiffs’ Claims.|
OBJECT NO LATER THAN
|Write to the Court about why you do not like any aspect of the Settlement.|
GO TO A HEARING ON
|Ask to speak in Court about the fairness of the Settlement.|
|Get no payment. Give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action.|
Please do not contact the Court regarding the Notice. All inquiries concerning this Notice, the Proof of Claim, or any other questions by Settlement Class Members should be directed to: