LifeStance Class Action Lawsuit LFST | Deadline October 11, 2022
Announcement! Investors that acquired LifeStance Health Group, Inc. (LifeStance class action lawsuit) common stock pursuant and/or traceable to the documents issued in connection with LifeStance’s initial public stock offering on June 10, 2021, have filed the LFST lawsuit.
The LFST lawsuit alleges that the defendants made false and/or deceptive statements and/or omitted to disclose the following throughout the Class Period:
(i) As the COVID-19 lockdowns were released, fewer clients were using LifeStance Health to conduct virtual visits, flattening LifeStance Health’s out-patient/virtual revenue growth;
(ii) LifeStance Health’s operating costs increased significantly as more clients used the service for in-person visits when the COVID-19 lockdowns were lifted;
(iii) LifeStance Health had experienced a significant loss of physicians due to burnout, causing its physician retention rate to fall well below the 87% stated in the registration statement for the initial public offering. In addition, LifeStance Health had been incurring additional costs to hire new physicians who were less effective than the departing physicians they were replacing; and
(iv) As a result, LifeStance Health’s financial indicators and prospects were not as promising as the registration statement for its initial public offering suggested.
If you suffered a loss in LFST 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.
LifeStance Class Action Lawsuit (LFST Lawsuit)
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