San Diego, CA -- (SBWire) -- 11/16/2016 --The Shareholders Foundation announced that an investor, who purchased shares of Alere Inc (NYSE:ALR), filed a lawsuit in Florida over alleged violations of Federal Securities Laws by Alere in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Alere Inc (NYSE:ALR) have certain options and for certain investors are short and strict deadlines running. Deadline: January 13, 2017. NYSE:ALR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff claims that between February 29, 2012 and November 4, 2016 the Defendants made false and/or misleading statements and/or failed to disclose that Alere's wholly-owned subsidiary, Arriva Medical, LLC ("Arriva"), was submitting claims to Medicare for deceased patients, that the foregoing conduct subjected Arriva to revocation of its Medicare enrollment, and that as a result, defendants' statements about Alere's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On November 4, 2016, Alere Inc announced that the Centers for Medicare and Medicaid Services alleged that the Company's subsidiary, Arriva Medical, submitted claims for 211 deceased patients over a five-year period, and thus revoked Arriva's Medicare enrollment.
Shares of Alere Inc (NYSE:ALR) declined from as high as $45.25 per share in late October 2016 to as low as $34.88 per share on November 9, 2016.
Those who purchased shares of Alere Inc have certain options and should contact the Shareholders Foundation.
Alere Inc (NYSE:ALR) Investor Files Securities Class Action Lawsuit in Effort to Recover Losses
A lawsuit was filed on behalf of investors in Alere Inc (NYSE:ALR) shares over alleged securities laws violations. Deadline: January 13, 2017. NYSE:ALR investors should contact the Shareholders Foundatio.