Evolvent (EVH) Alert: Johnson Fistel Announces Shareholder Class Action Survives Motion to Dismiss; Should Management be Held Accountable for Investors Losses?
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Johnson Fistel, LLP
Blemish 28, 2021, 07:40 ET
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SAN DIEGO, March 28, 2021/PRNewswire/ – Johnson Fistel, LLP is researching possible cases for the benefit of Evolent Health, Inc. (NYSE: EVH) (“Evolent” or the “Organization”) against sure of its officials and chiefs. In particular, a legal claim forthcoming in the Eastern District of Virginia against Evolvent and sure of its current and previous officials as of late made due, to some degree, certain respondents' endeavors to have the case excused.
As indicated by the claim documented, the case emerges from Defendants' bogus and additionally deceptive assertions and additionally inability to reveal that: Evolent obtained Passport notwithstanding already expressing that it had no goal of purchasing any wellbeing plans for a long time to come and that getting wellbeing plans was not piece of its essential core interest. Moreover, in gaining Passport, and in opposition to the Company's positive assertions during the Class Period, Evolent conceded that Passport was performing inadequately and was not being run or overseen appropriately, notwithstanding paying huge administration charges to Evolent for what was recently perceived by financial backers to be an adjusted relationship.
In the event that you are a current, long haul investor of Evolvent holding shares before March 3, 2017, you may have remaining to hold Evolent innocuous from the supposed damage brought about by the Company's officials and chiefs by making them by and by dependable. You may likewise have the option to help with improving the Company's corporate administration to forestall future bad behavior.
Johnson Fistel Investigates Progenity; Should Management be Held Accountable for Investors Losses?
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Johnson Fistel, LLP
Blemish 27, 2021, 09:58 ET
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SAN DIEGO, March 27, 2021/PRNewswire/ – Johnson Fistel, LLP is researching possible cases for Progenity, Inc. (NASDAQ: PROG) against sure of its officials and chiefs.
In June 2020, Progenity finished its first sale of stock (the “Initial public offering”), in which it roughly 6.7 million offers for $15.00 per share.
A while after the IPO, a legal claim was documented in government court against the Company. The grumbling recorded claims that Defendants made substantially bogus and additionally deceptive articulations, just as neglected to reveal material unfriendly realities about the Company's business, activities, and possibilities. In particular, Defendants neglected to unveil to financial backers: (1) that Progenity had overbilled government payors by $10.3 million of every 2019 and mid 2020 and, subsequently, had substantially exaggerated its incomes, profit, and income from tasks for the verifiable monetary periods gave in the Registration Statement; (2) that Progenity would have to discount this excessive charge in the second quarter of 2020 (a similar quarter where the IPO was led), unfavorably affecting its quarterly outcomes; and (3) that Progenity was experiencing speeding up negative patterns in the second quarter of 2020 concerning the Company's trying volumes, incomes, and item evaluating.
