Ardent Health Hit With Securities Class Actions After Revenue, Reserve Revisions

Overview

• Bleichmar Fonti & Auld filed Postiwala v. Ardent Health, Inc., No. 3:26-cv-00022, alleging securities fraud by the company and certain executives.
• Bragar Eagel & Squire announced a filed case on behalf of investors who bought Ardent shares between July 18, 2024 and November 12, 2025.
• The complaints allege Ardent misrepresented how it assessed accounts receivable by using a “180-day cliff” rather than detailed historical reviews and failed to maintain sufficient malpractice insurance.
• On November 12, 2025, Ardent disclosed a $43 million revenue reduction tied to hindsight collection reviews, a $54 million increase to professional liability reserves, and a 2025 EBITDA guidance cut of about 9.6%.
• Ardent’s stock fell from $14.05 to $9.30 the next day, and Robbins Geller also urged investors to come forward, citing New Mexico claim developments in the reserve increase.