PHILADELPHIA, PA / ACCESSWIRE / 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@example.com or (215) 875-3015, or Michael Dell'Angelo at firstname.lastname@example.org or (215) 875-3080 or visit: https://investigations.bergermontague.com/lifestance-health-group/
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.
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.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Andrew Abramowitz, Senior Counsel
Michael Dell'Angelo, Executive Shareholder
SOURCE: Berger Montague
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