The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Middle District of Tennessee on behalf of shareholders of Ardent Health, Inc. who purchased Securities between July 18, 2024 and November 12, 2025.
According to the filed complaint, defendants made false statements and/or concealed that: Ardent Health did not primarily rely on “detailed reviews of historical collections” in determining collectability of accounts receivable nor did “management determine [when an] account is uncollectible.” Instead, the Company’s accounts receivable framework “utilized a 180-day cliff at which time an account became fully reserved.” This allowed Ardent Health to report higher amounts of accounts receivable during the Class Period, and delay recognizing losses on uncollectable accounts. Because of this, the Company’s reported financial position was materially false and misleading. What’s more, Ardent Health did not maintain professional malpractice liability insurance in amounts “sufficient to cover claims arising out of [its] operations In truth, Ardent Health’s professional liability reserves were insufficient to cover “significant social inflationary pressure in medical malpractice cases the past several years,” which had been an “increasing dynamic year-over-year” in the Company’s New Mexico market.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until March 9, 2026 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
