Ardent Health Class Actions Gain Steam After Accounting Shift Disclosures

Overview

• Pomerantz, Hagens Berman, and Rosen announced actions and outreach to Ardent Health shareholders following the filing of Postiwala v. Ardent Health, Inc. in the U.S. District Court for the Middle District of Tennessee (No. 3:26-cv-00022).
• The putative class covers purchases from July 18, 2024 through November 12, 2025, with motions for lead plaintiff due March 9, 2026.
• Complaints allege investors were misled about accounts receivable practices, asserting the company relied on a 180-day cliff rather than the detailed hindsight analyses it described.
• Hagens Berman is probing whether leadership failed to disclose material weaknesses in controls over revenue recognition and professional liability reserves.
• Ardent previously reported a $42.6 million revenue decrease tied to a new Kodiak RCA platform and hindsight reviews, a roughly $47–54 million increase in professional liability reserves, a cut to 2025 EBITDA guidance by about $57.5 million, and a one-day share drop of about 33%.