An investigation on behalf of investors in DaVita Inc. (NYSE: DVA) shares over potential wrongdoing at DaVita Inc. was announced.
San Diego, CA -- (SBWIRE) -- 10/22/2018 -- An investigation was announced for investors in shares of DaVita Inc. (NYSE: DVA) concerning potential breaches of fiduciary duties by certain officers and directors at DaVita Inc.
Investors who purchased shares of DaVita Inc. (NYSE: DVA) and currently hold any of those NYSE: DVA shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain DaVita Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
DaVita Inc. reported that its annual Total Revenue rose from over $10.69 billion in 2016 to over $10.88 billion in 2017 and that its Net Income declined from $879.87 million in 2016 to $663.16 million in 2017.
On October 1, 2018, the U.S. Department of Justice ("DOJ") announced that DaVita Medical Holdings agreed to pay $270 million to resolve allegations of Medicare billing fraud. The settlement follows purported inaccurate coding practices by HealthCare Partners, one of DaVita's physician networks. HealthCare Partners allegedly advised its doctors to use an improper diagnosis code for a spinal condition that boosted Medicare reimbursements. The settlement also resolves allegations by a whistleblower that HealthCare Partners searched its patients' medical records for diagnoses its providers may have failed to record, and then submitted these "missed" diagnoses in order to obtain increased Medicare payments.
Shares of DaVita Inc. (NYSE: DVA) declined from $75.43 per share on October 1, 2018 to as low as $65.99 per share on October 17, 2018.
On October 19, 2018, NYSE: DVA shares closed at $67.65 per share.
Those who purchased shares of DaVita Inc. (NYSE: DVA), have certain options and should contact the Shareholders Foundation.
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