Investor Firms Press Ardent Health Class Action Ahead of March 9 Lead-Plaintiff Deadline
Plaintiffs claim Ardent misstated receivables practices plus malpractice reserves, a dispute sharpened by November disclosures that preceded a steep selloff.
Overview
- Competing notices from Bleichmar Fonti & Auld, Rosen Law Firm, and Kahn Swick & Foti highlight the race for lead-plaintiff status, while Faruqi & Faruqi says it is investigating claims.
- The consolidated case is pending in the U.S. District Court for the Middle District of Tennessee as Postiwala v. Ardent Health, Inc., et al., No. 3:26-cv-00022.
- The putative class covers investors who bought Ardent securities from July 18, 2024 through November 12, 2025, with March 9, 2026 set as the deadline to seek lead-plaintiff status.
- Complaints allege Ardent relied on a “180-day cliff” for receivables reserves despite touting detailed historical reviews, minimized rising payer denials as slow payment, and carried inadequate malpractice reserves tied to New Mexico claims.
- Law firm releases point to Ardent’s November 12, 2025 update cutting Q3 revenue by $43 million, lifting professional liability reserves by $54 million, trimming 2025 EBITDA guidance by about $57.5 million, and preceding a roughly 33% share drop the next day.