GOHEALTH SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against GoHealth, Inc. - GOCO
NEW ORLEANS, Sept. 25, 2020 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilNovember 20, 2020 to file lead plaintiff applications in a securities class action lawsuit against GoHealth, Inc. (NasdaqGS: GOCO), if they purchased the Company's Class A common stock issued in connection with its July 2020 initial public stock offering (the "IPO"). This action is pending in the United States District Court for the Northern District of Illinois.
What You May Do
If you purchased shares of GoHealth and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-goco/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by November 20, 2020.
About the Lawsuit
GoHealth and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) since the first half of 2020, the Medicare insurance industry was undergoing a period of elevated churn; (ii) the Company was exposed to a higher risk of customer churn due to its unique business model and limited carrier base; (iii) the Company suffered from degradations in customer persistency and retention as a result of elevated industry churn, vulnerabilities that arose from the Company's concentrated carrier business model, and its efforts to expand into new geographies, develop new carrier partnerships and worsening product mix; (iv) the Company had entered into materially less favorable revenue sharing arrangements with its external sales agents; and (v) these adverse financial and operational trends were internally projected by GoHealth to continue and worsen following the IPO.
The case is Hudson v. GoHealth, Inc., No. 20-cv-05593.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.