ACCESS Newswire
12 Aug 2022, 20:31 GMT+10
NEW YORK, NY / ACCESSWIRE / August 12, 2022 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against LifeStance Health Group, Inc. ('LifeStance Health' or the 'Company') (NASDAQ:LFST) and certain of its officers, on behalf of a class consisting of all persons and entities that purchased or otherwise acquired LifeStance Health common stock issued in connection with LifeStance Health's June 10, 2021 initial public stock offering (the 'IPO').Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/lfst1.
This class action seeks to recover damages against Defendants for alleged violations of the Securities Act of 1933 (the 'Securities Act').
The Complaint alleges that the IPO's registration statement failed to disclose the following material facts: (1) that the number of virtual visits clients were undertaking utilizing LifeStance Health was decreasing as the COVID-19 lockdowns were being lifted, thereby flatlining LifeStance Health's out-patient/virtual revenue growth; (2) that the percentage of in-person visits clients were undertaking utilizing LifeStance Health was increasing as the COVID-19 lockdowns were being lifted, thereby causing LifeStance Health's operating expenses to increase substantially; (3) that LifeStance Health had lost a large number of physicians due to burn-out and, as a result, its physician retention rate had fallen significantly below the 87% highlighted in the IPO's registration statement and LifeStance Health had been expending additional costs to onboard new physicians who were less productive than the outgoing physicians they were replacing; and (4) as a result, LifeStance Health's business metrics and financial prospects were not as strong as the IPO's registration statement represented.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/lfst1 or contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in LifeStance Health you have until October 11, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC
Get a daily dose of Boston Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Boston Star.
More InformationWASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
(Photo credit: David Butler II-Imagn Images) Boston Red Sox starting pitcher Hunter Dobbins exited Friday night's game against the...
(Photo credit: Brad Penner-Imagn Images) New York Yankees left-hander Carlos Rodon was named to the American League All-Star team...
(Photo credit: Geoff Burke-Imagn Images) Boston Legacy FC signed striker Aissata Traore to a three-year contract through the 2028...
(Photo credit: Patrick Breen/The Republic / USA TODAY NETWORK via Imagn Images) Two teams hoping to get back to the .500 mark before...
(Photo credit: Patrick Gorski-Imagn Images) Behind right-hander Quinn Priester, the Milwaukee Brewers will look to continue their...