Core Viewpoint - A securities class action lawsuit has been filed against Ardent Health, Inc. following its poor Q3 2025 financial results, alleging misleading statements regarding revenue recognition and liability reserves [1][2]. Group 1: Allegations and Lawsuit Details - Hagens Berman is investigating claims that Ardent misled investors about its revenue recognition systems and the adequacy of its professional liability reserves [2]. - The lawsuit claims that Ardent assured investors of an active monitoring process for accounts receivable, which was misleading as the company primarily used a 180-day cliff for reserving accounts [4][6]. - The truth emerged on November 12, 2025, when Ardent disclosed a new accounting method that resulted in a revenue reduction of $42.6 million due to hindsight evaluations [5][6]. Group 2: Financial Impact and Market Reaction - Following the earnings call, Ardent's CFO revealed that the company's collectability framework utilized a 180-day cliff for reserving accounts, contradicting previous assurances [6]. - The company also reported an increase in total operating expenses as a percentage of total revenue, driven by a $47.2 million increase in professional liability reserves [6]. - The market reacted negatively, with Ardent's share price dropping by $4.75, or 33%, the day after the announcement [6]. Group 3: Investor Actions and Whistleblower Information - Investors who purchased Ardent securities between July 18, 2024, and November 12, 2025, and suffered losses are encouraged to contact Hagens Berman [2][4]. - Whistleblowers with non-public information regarding Ardent Health are urged to consider their options to assist in the investigation, with potential rewards under the SEC Whistleblower program [7].