Shareholder Class Action Alleging DaVita Inc. (DVA) Made Materially False and Misleading Statements Survives Motion to Dismiss

Investors filed a class action complaint against DaVita Inc. (DVA) for alleged violations of the Securities Exchange Act of 1934. According to the complaint, DaVita may have been illegally obtaining revenues and profits by steering patients into unnecessary private insurance plans and using the American Kidney Fund as a vehicle to facilitate its scheme from February 26, 2015, and October 6, 2017. On March 28, 2019, U.S. District Court Judge William J. Martinez denied DaVita's motion to dismiss plaintiffs' complaint, paving the way for litigation to proceed.