Oscar Health Class Action Lawsuit OSCR | Deadline July 11, 2022
Oscar Health Action Lawsuit
Oscar is facing a class action lawsuit (Oscar Health Class Action Lawsuit) alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) Oscar was experiencing growing COVID-19 testing and treatment costs; (2) Oscar was experiencing growing net COVID costs; (3) Oscar would be negatively impacted by an unfavorable prior year Risk Adjustment Data Validation result relating to 2019 and 2020; (4) Oscar was on track to be negatively impacted by significant SEP membership growth; and (5) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you incurred a loss on OSCR Class A common stock purchased pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s March 2021 initial public offering, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the Southern District of New York, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until July 11, 2022 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
Oscar Health Action
Oscar Health, Inc. (“Oscar” or the “Company”) stockholders may file a class action lawsuit, according to shareholder rights law firm Johnson Fistel, LLP, which is based in San Diego (NYSE: OSCR). Shareholders who bought in or can be linked to Oscar’s March 2021 initial public offering (the “IPO”) are the target of the class action. Oscar Health class action lead plaintiff motions must be submitted to the court no later than July 11, 2022.
Oscar Health Lawsuit
The complaint filed in this class action claims that the Registration Statement was materially false and misleading and omitted to state that: (1) Oscar was incurring rising COVID-19 testing and treatment costs; (2) Oscar was incurring rising net COVID costs; (3) Oscar would suffer harm from an unfavorable prior-year Risk Adjustment Data Validation (RADV) result pertaining to 2019 and 2020; and (4) Oscar was on track to suffer harm from an unfavorable prior-year RADV result.
OSCR Class Action Lawsuit
The Oscar Health class action lawsuit claims that the IPO’s Registration Statement was materially false and misleading and omitted to state that: I Oscar Health was experiencing rising COVID-19 testing and treatment costs; (ii) Oscar Health was experiencing rising net COVID costs; (iii) Oscar Health would be negatively impacted by an unfavorable prior year Risk Adjustment Data Validation (“RADV”) result relating to 2019 and 2020; and (iv) Oscar Health was on track to be profitable.
OSCR Class Action
Any investor who purchased Oscar Health Class A common stock pursuant and/or traceable to the Registration Statement released in connection with Oscar Health’s IPO is eligible to request appointment as lead plaintiff under the Private Securities Litigation Reform Act of 1995. A lead plaintiff is typically the petitioner who has the largest financial stake in the remedy the putative class is seeking and who is also representative and sufficient of the putative class.
On behalf of Oscar investors who suffered losses as a result of suspected securities fraud, the action seeks to recoup losses. On behalf of those who purchased Oscar Class A common stock or otherwise acquired it in accordance with and/or traceable to the registration statement and prospectus released in conjunction with the Company’s March 2021 first public offering, this lawsuit has been filed. The Levi & Korsinsky team has a track record of success in high-stakes matters and has recovered hundreds of millions of dollars for harmed shareholders over the past 20 years. Our business employs over 70 workers to help our customers and has vast experience representing investors in difficult securities disputes.
In the US, Oscar Health, Inc. offers health insurance goods and services. The business provides Individual & Family, Small Group, and Medicare Advantage plans in addition to +Oscar, a platform powered by technology that enables doctors and payor clients to interact with members and patients. Additionally, it offers reinsurance packages. In January 2021, the business changed its name from Mulberry Health Inc. to Oscar Health, Inc. Oscar Health, Inc. was established in 2012 and has its corporate office in New York.
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