HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages LifeStance Health Group (LFST) Investors to Contact Firm’s Attorneys, Firm Investigating Possible Securities Law Violations
SAN FRANCISCO, Dec. 27, 2021 (GLOBE NEWSWIRE) -- Hagens Berman urges LifeStance Health Group, Inc. (NASDAQ: LFST) investors with significant losses to submit your losses now. The firm is investigating possible securities law violations and certain investors may have valuable claims.
LifeStance Health Group, Inc. (LFST) Investigation:
The investigation focuses LifeStance’s statements concerning its financial performance, operations and prospects up to- and through- its initial public offering, which closed on or about June 10, 2021.
Specifically, LifeStance has promoted itself as being dedicated to improving the lives of patients by reimagining mental health through a disruptive, tech-enabled in-person and virtual care delivery model built to expand access and affordability, improve outcomes and lower overall health care costs. According to the company, a key to this strategy is growth and productivity of its employed licensed medical clinicians.
But, on Aug. 11, 2021, LifeStance reported that the company’s Q2 2021 net loss more than doubled compared to the previous year’s quarter and estimated Q3 2021 revenues which lagged analysts’ consensus. During the earnings call that day, senior management in part blamed increased clinician turnover for the downward pressure on financial performance, disclosed they saw this trend midway through Q2 2021, and explained that new clinicians would be less productive for up to six months.
Most recently, on Nov. 8, 2021, LifeStance reported that the company’s Q3 2021 net loss rose more than 36 times from the net loss incurred during the previous year’s quarter and estimated Q4 2021 revenues at the low end of the range previously given.
This news sent the price of LifeStance shares crashing lower.
“We’re focused on investors’ losses and whether LifeStance misled investors about the growth and productivity of its clinician workforce,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in LifeStance and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding LifeStance should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email LFST@hbsslaw.com.
About Hagens Berman
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Reed Kathrein, 844-916-0895