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LFST.US
id: 132, Created by Law Guard, Scout
Lifestance Health Group Inc
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
On August 11, 2021, LifeStance published its financial results which reported a $70 million net loss and issued Q3 guidance that was below previous estimates.
On August 12, LifeStance's stock price fell 46% and closed at $11.71 per share.
During the COVID-19 pandemic, LifeStance benefitted from the state and local lockdown orders. Total revenue grew from $100.3 million in 2018 to $377.2 million in 2020 on a pro forma basis.
Back on June 11, 2021, when LifeStance filed the final Prospectus for the IPO, the shares were priced at $18.00. In its IPO documentation, LifeStance did not inform prospective investors of the negative impact on the company’s business of lifting the COVID restrictions, which increased operating expenses with fewer online and more in-person patient visits, and increased costs of onboarding new physicians.
Investors have not recovered their losses, the stock is still trading in the $5-$11 range in 2022, a drop from the IPO price of $18.
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
11 August 2021
Court
Southern District of New York