Kessler Topaz Meltzer & Check, LLP Announces Deadline in Securities Fraud Class Action Lawsuit Filed…
The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Oscar Health, Inc. (Oscar) (NYSE: OSCR). The action charges Oscar with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company’s business, operations, and prospects. As a result of Oscar’s materially misleading statements to the public, Oscar investors have suffered significant losses.
CLICK HERE TO SUBMIT YOUR OSCAR LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN YOUR BROWSER: https://www.ktmc.com/new-cases/oscar-health-inc?utm_source=PR&utm_medium=link&utm_campaign=oscar_health&utm_campaign=oscr&mktm=r
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LEAD PLAINTIFF DEADLINE: JULY 11, 2022
CLASS PERIOD: PURSUANT AND/OR TRACEABLE TO OSCAR’S MARCH 2021 IPO THROUGH MAY 12, 2022
CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:
James Maro, Esq. (484) 270-1453 or Toll Free (844) 887-9500 or Email at [email protected]
Kessler Topaz is one of the world’s foremost advocates in protecting the public against corporate fraud and other wrongdoing. Our securities fraud litigators are regularly recognized as leaders in the field individually and our firm is both feared and respected among the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.
OSCAR’S ALLEGED MISCONDUCT
In March, 2021, Oscar conducted its IPO, selling 36,391,946 shares of Class A common stock at a price of $39.00 per share. Oscar received net proceeds of approximately $1.3 billion from the IPO.
On August 12, 2021, Oscar disclosed that its Medical Loss Ratio (MLR) for the second quarter of 2021 was 82.4%, an increase of 2170 basis points year-over year, claiming that the increase was primarily driven by meaningfully lower utilization in 2Q20 as a result of COVID-19, as well as higher COVID-19…