Trending...
- California: Governor Newsom honors fallen CAL FIRE Engineer
- California: Governor Newsom announces appointments 1.2.2026
- Lacy Hendricks Earns Prestigious MPM® Designation from NARPM®
SAN FRANCISCO, Jan. 12, 2022 /PRNewswire/ -- Hagens Berman urges Oak Street Health, Inc. (NYSE: OSH) investors with significant losses to submit your losses now. A securities fraud class action has been filed and certain investors may have valuable claims.
Class Period: Aug. 6, 2020 – Nov. 8, 2021
Lead Plaintiff Deadline: Mar. 11, 2022
Visit: www.hbsslaw.com/investor-fraud/OSH
Contact An Attorney Now: [email protected]
844-916-0895
Oak Street Health, Inc. (OSH) Securities Class Action:
The lawsuit focuses on defendants' repeated statements about Oak Street's purported "innovative community outreach approach" to engage Medicare eligible patients and repeated claims that its "strong" at- risk patient and revenue growth are largely the product of its internal sales and marketing efforts.
More on The Californer
According to the complaint, defendants misled investors by failing to disclose that: (1) Oak Street maintained relationships with third-party marketing agents likely to provoke law enforcement scrutiny; (2) Oak Street provided free transportation to federal health care beneficiaries in a manner that would provoke law enforcement scrutiny; and, (3) these activities might violate the False Claims Act.
Investors began to learn the truth on Nov. 8, 2021, when Oak Street announced its Q3 2021 financial results, which included a slight miss from the consensus loss estimate. However, the company also disclosed it received a civil investigative demand ("CID") on Nov. 1, 2021, indicating the U.S. Department of Justice is investigating the company's relationships with third-party marketing agents and whether the company's provision of free transportation to federal health care beneficiaries violated the federal False Claims Act.
This news sent the price of Oak Street shares sharply lower on Nov. 9, 2021.
"We're focused on investors' losses and proving Oak Street and senior management misled investors about the true sources of the company's patient and revenue growth," said Reed Kathrein, the Hagens Berman partner leading the investigation.
More on The Californer
If you invested in Oak Street and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Oak Street should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 844-916-0895
SOURCE Hagens Berman Sobol Shapiro LLP
Class Period: Aug. 6, 2020 – Nov. 8, 2021
Lead Plaintiff Deadline: Mar. 11, 2022
Visit: www.hbsslaw.com/investor-fraud/OSH
Contact An Attorney Now: [email protected]
844-916-0895
Oak Street Health, Inc. (OSH) Securities Class Action:
The lawsuit focuses on defendants' repeated statements about Oak Street's purported "innovative community outreach approach" to engage Medicare eligible patients and repeated claims that its "strong" at- risk patient and revenue growth are largely the product of its internal sales and marketing efforts.
More on The Californer
- California: THIS WEEK: State finance director to hold media briefing on Governor Newsom's 2026-27 budget
- Delta High End Appliance Repair Expands Appliance Repair Services in San Francisco Bay Area
- At Your Service Plumbing Named a 2025 Nextdoor Neighborhood Fave
- California: On eve of LA Fire Anniversary, Governor Newsom announces housing push to keep survivors in their communities
- 113 Digital Media Announces the Visibility +PR Alignment Package
According to the complaint, defendants misled investors by failing to disclose that: (1) Oak Street maintained relationships with third-party marketing agents likely to provoke law enforcement scrutiny; (2) Oak Street provided free transportation to federal health care beneficiaries in a manner that would provoke law enforcement scrutiny; and, (3) these activities might violate the False Claims Act.
Investors began to learn the truth on Nov. 8, 2021, when Oak Street announced its Q3 2021 financial results, which included a slight miss from the consensus loss estimate. However, the company also disclosed it received a civil investigative demand ("CID") on Nov. 1, 2021, indicating the U.S. Department of Justice is investigating the company's relationships with third-party marketing agents and whether the company's provision of free transportation to federal health care beneficiaries violated the federal False Claims Act.
This news sent the price of Oak Street shares sharply lower on Nov. 9, 2021.
"We're focused on investors' losses and proving Oak Street and senior management misled investors about the true sources of the company's patient and revenue growth," said Reed Kathrein, the Hagens Berman partner leading the investigation.
More on The Californer
- Snell & Wilmer Attorney Gregory J. Sonnenberg Named Chair of CRF-OC's Associate Board of Directors
- California: As federal aid stalls, Governor Newsom announces proposed effort to close insurance gaps for LA fire survivors, expands mortgage relief
- Southeast Ventura County YMCA Served Over 34,000 People, Provided $439,797 In Financial Ad in 2025
- BrassTranscripts Expands AI Prompt Library to 104 Templates with Sales and Pricing Calculators
- Attention ALL MEDIA COMPANIES: You are going to LOVE the ADVERTISING REVENUES from this very special kind of VALENTINE'S DAY PROMOTION!
If you invested in Oak Street and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Oak Street should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 844-916-0895
SOURCE Hagens Berman Sobol Shapiro LLP
Filed Under: Business
0 Comments
Latest on The Californer
- California: Governor Newsom issues proclamation declaring 2026 statewide primary election date
- RNHA Affirms Support for President Trump as Nation Marks Historic Victory for Freedom
- California: Governor Newsom issues statement on Trump administration's vaccine schedule endangering the lives of infants and children
- City of Long Beach to Host Compost and Recycling Ambassador Program in English and Spanish this Spring
- American Laser Study Club Announces 2026 Kumar Patel Prize in Laser Surgery Recipients: Ann Bynum, DDS, and Boaz Man, DVM
- Happy new year! EyeQue Announces Leadership Transition
- Lineus Medical Completes UK Registration for SafeBreak® Vascular
- Boleros de Noche Celebrates '10 Años'
- Canyons & Chefs Announces Revamped Homepage
- $140 to $145 Million in 2026 Projected and Profiled in New BD Deep Research Report on its Position in $57 Billion US Marine Industry; N Y S E: OTH
- Really Cool Music Releases Its Fourth Single - "So Many Lost Years"
- MGN Logistics Acquires Fast Service LLC, Fueling MyMGN Marketplace Expansion and Supercharging Expedited Coverage Nationwide
- The Wait is Over: Salida Wine Festival Announces Triumphant 2026 Return After Seven-Year Hiatus
- Graduates With $40K in Student Debt Are Buying Businesses Instead of Taking Entry-Level Jobs
- San Diego couple creates first HBCU doll line sold in HBCU bookstores (that stands in their heels)!
- Dr. Dawson Church's Spiritual Intelligence Wins Gold in Two Categories
- Anne Seidman: Within the Lines
- Kill the Ego. Elevate Your Game
- How Democrats Made Healthcare More Expensive in 2026