Philadelphia, Pennsylvania--(Newsfile Corp. - February 11, 2023) - Kaskela Law LLC announces that it is investigating Bright Health Group, Inc. (NYSE: BHG) on behalf of the company's long-term investors.
Bright Health is an integrated care delivery company that engages in the delivery and financing of health insurance plans in the Unites States. Recently a securities fraud complaint was filed against Bright Health on behalf of certain investors who purchased shares of the company's stock between June 24, 2021 through March 1, 2022.
According to the complaint, following the company's initial public offering ("IPO") of common stock in June 2021 at a price of $18.00 per share, Bright Health and certain of the company's senior executive officers made a series of false and misleading statements about the company's business, operations and prospects. Specifically, defendants are alleged to have failed to disclose that: (i) Bright Health had overstated its post-IPO business and financial prospects; (ii) Bright Health was ill-equipped to handle the impact of COVID-19-related costs; (iii) Bright Health was experiencing a decline in premium revenue because of a failure to capture risk adjustment on newly added lives; and (iv) all the foregoing was reasonably likely to have a material negative impact on Bright Health's business and financial condition.
The investigation seeks to determine whether the members of Bright Health's board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.
Current Bright Health stockholders who purchased or acquired their BHG shares prior to August 3, 2021 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 - 0750, or by email (skaskela@kaskelalaw.com / abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/bright-health-group/ , for additional information about this investigation and their legal rights and options.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 - 1740
www.kaskelalaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154510
Published by: Newsfile Corp .