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LFST.US

LifeStance (LFST) Bear Cave's Report Case

  • In mid-October, Bear Cave in its report accused LifeStance of fraudulent behavior. It led to $LFST losing $200M of shareholder value.
  • Now, investors may have reasons to suspect LifeStance of unlawful business practices, or The Bear Cave - in price manipulations.
On October 19, 2023, The Bear Cave published a report on LifeStance (LFST) alleging that it "uncovered dozens of complaints concerning overbilling, fraudulent billing, and unfair and deceptive business practices".

Reported included allegations that :
  • LifeStance is scheduling therapy appointments without the knowledge of patients to incur spurious cancellation and no-show fees,
  • The Company added unearned billing codes to patient bills,
  • LifeStance sends bills to people who have never used its services, and
  • Multiple employee reviews concerning billing fraud.
On this news, $LFST fell 8.9% and lost over $200 million of its market capitalization, seriously damaging shareholders.

Considering uncovered facts, investors might have grounds to suspect that LifeStance was involved in unlawful business practices, which consequently led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
19 October 2023
Collecting participants…
Created by Stan Vick, Scout

Lifestance Health Group Inc

LifeStance Health Group, Inc., through its subsidiaries, provides outpatient mental health services. The company offers patients a suite of mental health services, including psychiatric evaluations...

    Ticker
    LFST.US
    ISIN
    US53228F1012
    CIK
    1845257
    Sector
    Healthcare
    Industry
    Medical Care Facilities
    Country
    USA
    Address
    4800 N. Scottsdale Road, Scottsdale, AZ, United States, 85251