NEW YORK, May 20, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose that: (1) MBT and its subsidiary were involved in a scheme to pay $420 million in bribes in Uzbekistan; (2) consequently, MBT knew or should have known it would be forced to pay substantial fines to the U.S. government after disclosing in 2014 that the U.S. Department of Justice and Securities and Exchange Commission were investigating its Uzbekistan operations; (3) MBT’s level of cooperation with the U.S. government and remediation was lacking; (4) due to the aforementioned misconduct, MBT would be forced to pay approximately $850 million in criminal penalties to the U.S. government; and (5) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information. Specifically, the complaint alleges that defendants engaged in a scheme to deceive the market and a course of conduct that artificially inflated the price of Healthcare Services securities and operated as a fraud or deceit on Class Period purchasers of Healthcare Services securities by misrepresenting the value of the Company’s business and prospects by overstating its earnings and concealing the significant defects in its internal controls.
The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose that: (1) issues with American Renal’s accounting process for revenue recognition, collections, and related matters would give rise to a U.S. Securities and Exchange Commission (“SEC”) investigation into the same, and increased regulatory scrutiny by the SEC; (2) American Renal’s financial statements for the fiscal years 2014, 2015, 2016 and 2017 contained in its Annual Reports for the years ended December 31, 2016 and 2017, and its condensed consolidated financial statements in quarterly reports from 2016 through 2018 were false and could not be relied upon; (3) American Renal had material weaknesses in its internal control over financial reporting; and (4) as a result, defendants’ public statements were materially false and misleading at all relevant times.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org