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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Oscar Health Class Action Complaint Filed: Johnson Fistel, Globally-Recognized Law Firm Encourages Shareholders to Submit Their Oscar Losses

June 27, 2022 GMT

SAN DIEGO, June 27, 2022 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Oscar Health, Inc. (“Oscar” or the “Company”) (NYSE: OSCR). The class action is on behalf of shareholders who purchased in or traceable to Oscar’s March 2021 initial public offering (the “IPO”). Lead plaintiff motions for the Oscar Health class action lawsuit must be filed with the court no later than July 11, 2022.

What actions may I take at this time? If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.

To join this action, you can click or copy and paste the link below in a browser:

https://www.johnsonfistel.com/investigations/oscar-health-recover-your-losses-ipo-lawsuit

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There is no cost or obligation to you.

The complaint filed in this class action alleges that the Registration Statement was materially false and misleading and omitted to state: (1) that Oscar was experiencing growing COVID-19 testing and treatment costs; (2) that Oscar was experiencing growing net COVID costs; (3) that Oscar would be negatively impacted by an unfavorable prior-year Risk Adjustment Data Validation (RADV) result relating to 2019 and 2020; (4) that Oscar was on track to be negatively impacted by significant SEP membership growth; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

A lead plaintiff will act on behalf of all other class members in directing the Oscar Health class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the Oscar Health class action lawsuit is not dependent upon serving as lead plaintiff. For more information regarding the lead plaintiff process please refer to https://www.johnsonfistel.com/lead-plaintiff-deadlines.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
Investor Relations

jimb@johnsonfistel.com