Securities Investigation: LifeStance Health Group, Inc.
LIFESTANCE HEALTH GROUP, INC. Company News: Berger Montague Investigates Securities Fraud Allegations Against LifeStance Health Group, Inc. (NASDAQ: LFST); Lead Plaintiff Deadline is October 11, 2022
PHILADELPHIA, August 15, 2022 – Berger Montague is investigating securities fraud allegations on behalf of investors who purchased the securities LifeStance Health Group, Inc. (“LifeStance” or the “Company”) (NASDAQ: LFST) between June 7, 2021 and August 10, 2022 (the “Class Period”).
If you purchased the securities of LifeStance during the Class Period, would like to discuss Berger Montague’s investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at [email protected] or (215) 875-3015, or Michael Dell’Angelo at [email protected] or (215) 875-3080 or visit: https://investigations.bergermontague.com/lifestance-health-group/
According to a recently filed lawsuit, LifeStance’s IPO Registration Statement failed to disclose that: (1) the number of virtual visits clients were undertaking utilizing LifeStance was decreasing as the COVID-19 lockdowns were being lifted, thereby flatlining the Company’s out-patient/virtual revenue growth; (2) operating expenses increased as clients’ in-person visits increased in response to lifting of lockdown orders; and (3) physician burnout rate had risen, driving physician retention well below 87%, necessitating additional costs.
At the time of the filing of the complaint, LifeStance shares had fallen more than 70% from the IPO price.
Whistleblowers: Anyone with non-public information regarding LifeStance is encouraged to confidentially assist Berger Montague’s investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.