Trending...
- TVS Cipher Network Adds Lights Out,Foreign Intrigue,Science Fiction Theater to WatchYour.TV Platform
- TVS Nostalgia TV Network Adds My World and Welcome to It to Winter 2022 WatchYour.TV Schedule
- Cpics - A New Streaming Platform Dedicated to South Asian Content Announce Upcoming 2022 Activities
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
- COVALT Concrete Floor Leveling, San Clemente
- Ethos Asset Management Inc., USA Announces Deal with Meat Alimentos e Servicos Ltda., Brazil to Expand 'General Prime Burger' Restaurants and Develop a New Brand in Brazil
- California: Governor Newsom Joins Vice President Harris to Highlight State-Federal Investments and Action to Build Wildfire Resilience
- A New Approach to Finding the Perfect Home
- RBB Bancorp Announces Completion of Acquisition of Certain Assets and Liabilities of the Honolulu, Hawaii Branch Office of Bank of the Orient
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
- Trina Rockstarr "Diamond Princess" Apes into Metaverse with 456 Collectors Club
- ExecuSearch Holdings, LLC Data Breach Prompts Investigation into Possible Class Action Lawsuit
- Archer Appoints Mark Mesler as Chief Financial Officer
- New Talk Show Premiers on Chow Entertainment KXLA
- 1017 Brick Squad Records 2022 New Artist Acquisition
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
- BIS Research Study Highlights the Wiring Harnesses and Connectors for Electric Vehicles Market to Reach $22.87 billion by 2031
- A Cool Jazz Ballad that Contemplates the Nature of Consciousness; Octopuses
- Freedom Photonics Sets a New Milestone: auraTM 1550 nm Semiconductor Laser Amplifier Reaches >5.0 Watt Diffraction-Limited Output Power
- CASETiFY Collaborates with Peanuts to Introduce a Snoopy and Friends-Inspired Collection
- Businessman Ismail Sirdah Advertisement Strategies for Event Promotion
- How do a traveller opt Virgin America booking at low fare to hometown
- AHF Praises Merck for Generics – Urges Same from Vaccine Makers
- McAfee Continues to Provide Leading Online Protection to Consumers
- California: Governor Newsom Brings in State Support for Rail Theft in Los Angeles, Highlights State Efforts to Fight and Prevent Crime
- "Bliss Brain" Wins the Nautilus and American Book Fest Top Awards
- Insurance Association Launches 2022 Selling Medicare Insurance Video Package
- TEAMSTERS STAGE PRACTICE PICKET AT CEMEX
- Console & Associates, P.C. Investigates Class Action Lawsuit Following LendUS, LLC Data Breach
- ReoStar Energy Corporation Executes Letter of Intent (LOI) with an experienced oil and gas company
- CORRECTING and REPLACING PHOTO Open Influence Launches Go Prism Self-Serve SaaS Solution, an Innovative Influencer Marketing and Insights Tool for Social Media Marketers
- Yunishigawa Onsen's Kamakura Festival Features the Unique Northern Japan Winter Tradition: Kamakura or Snow Huts
- A New Social Network Based on Gratitude and Positivity
- Prophecy Raises $25M to Accelerate Availability of Its Low-Code Platform for Data Engineering
- Alten Construction completes modernization of Castro Valley High School
- We Are Reaching Out to Our Community in Los Angeles