PR Newswire
NEW YORK, Feb. 18, 2022 /PRNewswire/ — Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Bright Health Group, Inc. (NYSE: BHG).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/bright-health-group-inc-loss-submission-form/?id=23805&from=4
This lawsuit is on behalf of all persons and entities other than defendants that purchased or otherwise acquired: (a) Bright Health common stock pursuant and/or traceable to documents issued in connection with the Company’s initial public offering conducted on or about June 24, 2021; and/or (b) Bright Health securities between June 24, 2021 and November 10, 2021.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until March 7, 2022 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
According to a filed complaint, Bright Health Group, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) Bright Health had overstated its post-IPO business and financial prospects; (ii) the Company was ill-equipped to handle the impact of COVID-19-related costs; (iii) the Company was experiencing a decline in premium revenue because of a failure to capture risk adjustment on newly added lives; (iv) all the foregoing was reasonably likely to have a material negative impact on Bright Health’s business and financial condition; and (v) as a result, the documents issued in connection with the IPO and Defendants’ public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law
