NEW ORLEANS–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24DVA&src=ctag” target=”_blank”gt;$DVAlt;/agt; lt;a href=”https://twitter.com/hashtag/DVA?src=hash” target=”_blank”gt;#DVAlt;/agt;–Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a
partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces
that KSF has commenced an investigation into DaVita Inc. (NYSE: DVA).
On December 25, 2016, an article by the New York Times
highlighted the relationship between the American Kidney Fund (“AKF”), a
charity that helps patients pay for kidney dialysis, and its largest
donors, including DaVita, suggesting that the AKF had denied charitable
premium assistance (“CPA”) to patients of dialysis companies who did not
donate to it. Then, on January 6, 2017, the Wall Street Journal
reported that the Company had received subpoenas from federal
prosecutors seeking “the production of information related to charitable
premium assistance” in connection with its ties to the AKF.
On February 1, 2017, a securities class action lawsuit was filed against
the Company alleging that it made false and/or misleading statements
and/or failed to disclose its scheme to steer patients into unneeded
insurance plans in order to maximize profits, using the AKF to
facilitate the improper practices. Recently, the court presiding over
the case denied the Company’s motion to dismiss, allowing the case to
move forward.
KSF’s investigation is focusing on whether DaVita’s officers and/or
directors breached their fiduciary duties to DaVita’s shareholders or
otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or
have been a long-term holder of DaVita shares and would like to discuss
your legal rights, you may, without obligation or cost to you, call
toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]),
or visit https://www.ksfcounsel.com/cases/nyse-dva/
to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General
Charles C. Foti, Jr., is a law firm focused on securities, antitrust and
consumer class actions, along with merger & acquisition and breach of
fiduciary litigation against publicly traded companies on behalf of
shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
