19 Sep, 2021, 23:13 ET
NEW YORK, Sept. 19, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of LifeStance Health Group, Inc. ("LifeStance" or the "Company") (NASDAQ: LFST). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether LifeStance and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On or around June 10, 2021, LifeStance conducted its initial public offering ("IPO"), selling 32.8 million shares priced at $18.00 per share. Then, on August 11, 2021, LifeStance reported its financial and operating results for the second quarter of 2021. Among other items, LifeStance reported a net loss for the quarter more than double that incurred in the same period in the prior year and estimated third quarter revenues that fell short of consensus expectations. During an earnings call that same day, the Company's senior management in part blamed increased clinician turnover for the downward pressure on financial performance, indicating that they had identified this trend at least as early as midway through the second quarter of 2021, and explained that new clinicians would be less productive for up to six months.
On this news, LifeStance's stock price fell $10.16 per share, or 46.46%, to close at $11.71 per share on August 12, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
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