Core Viewpoint - A class action lawsuit has been filed against Ardent Health, Inc. and its senior executives for securities fraud following a significant stock drop attributed to potential violations of federal securities laws [1][3]. Group 1: Lawsuit Details - The lawsuit is filed in the U.S. District Court for the Middle District of Tennessee, captioned Postiwala v. Ardent Health, Inc., et al., No. 3:26-cv-00022 [3]. - Investors have until March 9, 2026, to request to be appointed to lead the case [3]. - The complaint alleges violations under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Ardent Health securities [3]. Group 2: Allegations Against Ardent Health - Ardent Health operates acute care hospitals and healthcare facilities, with a focus on the collection of accounts receivable [4]. - The lawsuit claims that Ardent Health misrepresented its process for determining the collectability of accounts receivable, stating it relied on "detailed reviews of historical collections," while actually using a "180-day cliff" method [4]. - This misrepresentation allegedly allowed Ardent Health to report inflated accounts receivable and delay recognizing losses on uncollectable accounts, constituting a violation of federal securities laws [4]. Group 3: Stock Performance Impact - On November 12, 2025, Ardent Health disclosed a $43 million revenue decrease for the quarter due to "hindsight evaluations of historical collection trends" [5]. - Additionally, the company increased its professional liability reserves by $54 million due to adverse prior period claim developments [5]. - Following this announcement, Ardent Health's stock price fell by $4.75 per share, a decline of over 33%, from $14.05 to $9.30 per share [5].
STOCK ALERT: Ardent Health, Inc. (ARDT) Stock Plummets 33% Triggering Securities Fraud Class Action by BFA Law, Contact the Firm before March 9 Deadline