Levi & Korsinsky, LLP announces the filing of a class action lawsuit in the USDC for the Southern District of Florida on behalf of shareholders of Alere Inc. (NYSE: ALR) who purchased shares between February 29, 2012 and November 4, 2016.
The complaint alleges that Alere made false and misleading statements and/or failed to disclose: (1) that the Company’s wholly-owned subsidiary, Arriva Medical, LLC (“Arriva”), was submitting claims to Medicare for deceased patients; (2) that this conduct subjected Arriva to revocation of its Medicare enrollment; and (3) that as a result of the above, Alere’s statements about its business, operations, and prospects, were false and misleading and/or lacked a reasonable basis at all relevant times.
On November 4, 2016, Alere disclosed that the Centers for Medicare and Medicaid Services alleged that Arriva submitted claims for 211 deceased patients over a five-year period, and thus revoked Arriva’s Medicare enrollment. Following this new, shares of Alere fell from a close of $42.23 on November 3, 2016, to a close of $36.10 per share.
If you suffered a loss in Alere you have until January 13, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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