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AGL.US
id: 1145

Agilon Health (AGL) Disappointing Financial Results Case

W.D. Texas
Court
1:24-cv-00297
Case number
09 Jan 2023
Class period Start
04 Jan 2024
Class period End
20 May 2024
Lead Plaintiff motion deadline
  • $AGL stockholder filed a claim vs. agilon health for misleading about their financial results and business prospects.
  • On January 5, 2024, news of the lowering profit forecasts caused $AGL to fall 28%, losing $1.4B+ in shareholder value.
On November 2, 2023, agilon disclosed lower-than-expected Q3 results due to higher utilization and medical costs.
  • Agilon decreased revenue forecast for 2023 and disclosed that agilon had raised its accounting reserve for previous medical expenses.
Following this news, $AGL dropped 13% the next day.

On January 5, 2024, agilon revealed another cut to its 2023 profit forecasts.

Additionally, they dislosed that their CFO, Timothy Bensley, would retire, to be replaced later in the year.

On this news, $AGL plummeted 28% the same day.

Based on these events, $AGL stockholder filed a claim against agilon and its leaders, accusing them of the following:
  • Agilon touted its visibility into utilization trends and medical costs.
  • They didn't disclose increased medical costs due to higher healthcare usage by MA patients.
Considering all the representations, investors have reasons to suspect that agilon misled about accounting reserves, business model effectiveness, and financial guidance.
Case Status
Lead Plaintiff Appointed
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
05 January 2024
Filing date
19 March 2024
Lead Plaintiff Deadline
20 May 2024
Collecting participants…

agilon health Inc

agilon health, inc. provides healthcare services for seniors through primary care physicians in the communities of the United States. It offers a platform that manages the total healthcare needs of...

    Ticker
    AGL.US
    ISIN
    US00857U1079
    CIK
    1831097
    Sector
    Healthcare
    Industry
    Medical Care Facilities
    Country
    USA
    Address
    6210 East US Highway 290, Austin, TX, United States, 78723