SOURCE: Saxena White P.A.

February 01, 2017 18:05 ET

Saxena White P.A. Files Securities Fraud Class Action Against DaVita Inc.

BOCA RATON, FL--(Marketwired - February 01, 2017) - Saxena White P.A. has filed a securities fraud class action lawsuit in the United States District Court for the District of Colorado against DaVita Inc. ("DaVita" or the "Company") (NYSE: DVA) on behalf of investors who purchased or otherwise acquired the common stock of the Company during the period between August 5, 2015 and October 21, 2016, inclusive (the "Class Period").

DaVita provides kidney dialysis services for patients suffering from chronic kidney failure or end-stage renal disease. The Company operates kidney dialysis centers and provides related lab services in outpatient dialysis centers, and provides acute inpatient dialysis services in approximately 900 hospitals and related laboratory services in the United States. DaVita made contributions to a purported charitable foundation called the American Kidney Fund ("AKF"), a group that provides financial assistance toward patients' health insurance premiums.

The Complaint brings forth claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects.

Specifically, the Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company and its senior executives purposefully steered patients into unnecessary insurance plans in order to maximize profits; (2) the Company was using AKF as a vehicle to facilitate these improper practices; (3) as a result, DaVita's revenues and profits were illegally obtained; (4) in turn, DaVita lacked effective internal controls over financial reporting; and (5) 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.

You may obtain a copy of the Complaint and join the class action at www.saxenawhite.com.

If you purchased DaVita stock between August 5, 2015 and October 21, 2016, inclusive, you may contact Lester Hooker (lhooker@saxenawhite.com) at Saxena White P.A. to discuss your rights and interests.

If you purchased DaVita common stock during the Class Period of August 5, 2015 and October 21, 2016, and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court by no later than April 3, 2017. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.

Saxena White P.A., with offices located in White Plains, New York and Boca Raton, Florida, concentrates its practice on prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.

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