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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of March 20, 2021, by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
You must register to view and download the Settlement Notice and Settlement Proof.
April 13, 2021 - Final approval of the settlement was granted by the court.
October 27, 2020 - The court preliminarily approved the settlement.
September 18, 2020 - A stipulation and agreement of settlement was entered by the parties.
March 28, 2019 - The court denied the defendants' motion to dismiss.
March 27, 2018 - A motion to dismiss the amended complaint was filed.
January 12, 2018 - An amended complaint was filed. 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.