The AG is legally compelled to investigate because of the state senate referral. She committed only to opening an investigation. The Maricopa County attorney also got a copy of the referral, but I don't know if her office has any capacity to pursue.
The facts, so far, look bad. This one company gets a 50% rate increase in an industry where even modest rate requests have been denied by state government. Child Services has declined license renewals (essentially putting a number of group homes out of business) and says they are moving away from the group home model.