Core Insights - Hagens Berman has initiated an investigation into Ardent Health, Inc. for potential securities law violations following significant adverse accounting adjustments totaling $97 million, which resulted in a stock decline of over 33% [1][2]. Financial Disclosures - The investigation centers on whether Ardent's management was aware of material weaknesses in internal controls related to revenue recognition and liability reserves, particularly given the $43 million revenue reduction and $54 million increase in reserves [2][3]. - The adverse disclosures on November 12, 2025, regarding the $97 million adjustment and the significant reduction in 2025 adjusted EBITDA guidance indicate a divergence from previously reported financial health [4]. Legal Focus Areas - Key legal focus areas include the adequacy of controls regarding the $43 million revenue reduction and the $54 million increase in liability reserves, as well as the timing of disclosures related to persistent payor denials [4]. - The investigation will also assess whether the adverse prior period claim developments were timely and properly reserved under GAAP and SEC guidelines [4]. Investor Impact - Hagens Berman is advising investors who purchased ARDT shares and suffered losses due to the undisclosed revenue and reserve issues, emphasizing the firm's track record of securing over $325 billion in settlements for investors [5].