SAN FRANCISCO, March 04, 2026 (GLOBE NEWSWIRE) — – National shareholder rights law firm Hagens Berman is notifying investors in Ardent Health, Inc. (NYSE: ARDT) regarding the March 9, 2026, lead plaintiff deadline in a pending securities class action the company and certain of its top executives.
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The litigation focuses on the revelation in Nov. 2025 that Ardent alleged utilized a rigid 180-day cliff to reserve for uncollectible accounts – a process that the complaint alleges conflicts with prior assurances that it used “detailed reviews of historical collections” to value its receivables. This revelation, alongside a massive $54 million spike in professional liability reserves, triggered a 33% stock collapse.
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“The allegations suggest that Ardent delayed recognizing losses to maintain an artificial earnings quality profile during its first months as a public company,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation of the pending alleged claims.
ARDT Securities Class Action Spotlight: Collectability Accounting
The pending litigation alleges that Ardent Health and its executives violated the U.S. securities laws by failing to disclose:
- The 180-Day Cliff: The complaint alleges that Ardent did not primarily rely on “detailed reviews” as claimed. Instead, it utilized a 180-day cliff where accounts became fully reserved only after reaching that age, allegedly allowing the company to report inflated receivables during the Class Period.
- Insufficient Insurance & Reserves: The suit alleges that Ardent Health did not maintain sufficient professional malpractice liability insurance and the company’s professional liability reserves were insufficient.
- The $43M Revenue Slash: On Nov. 12, 2025, Ardent revealed that it transitioned to a new accounting method in Q3 2025 for estimating the collectability of accounts receivable, which forced it to slash revenue by $42.6 million to account for hindsight evaluations.
- Social Inflation & Liability Spikes: Ardent also recorded a $54 million increase in its professional liability reserves “with respect to recent settlements and ongoing litigation arising from a limited set of claims between 2019 and 2022 in New Mexico” as well as “consideration of broader industry trends, including social inflationary pressures.”
- Stock Crash: The Nov. 12 disclosures caused the price of Ardent Health stock to plummet nearly 34%.
Next Steps: Contact Partner Reed Kathrein Today
Hagens Berman is a top-tier plaintiff litigation firm recognized for prosecuting complex securities class actions.
Mr. Kathrein is actively advising investors who purchased ARDT shares between July 18, 2024 – Nov. 12, 2025.
The Lead Plaintiff Deadline is March 9, 2026.
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If you’d like more information and answers to frequently asked questions about the Ardent Health case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding Ardent Health should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b2f406d7-cf6e-43da-ac43-3ac378e42723
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a83e50e4-0b6d-4820-a043-9d7c1f9bd59f