NEW ORLEANS, Sept. 13, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, is reminding investors they have until October 11, 2022 Lead Plaintiff motions to file in a securities class action lawsuit against LifeStance Health Group, Inc. (NasdaqGS: LFST) if they purchase the Company’s Class A common stock pursuant to and/or traceable to the Company’s June 2021 IPO (the “IPO”) . This lawsuit is pending in the United States District Court for the Southern District of New York.

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LifeStance investors should visit us at https://claimsfiler.com/cases/nasdaq-lfst/ or call toll free (844) 367-9658. Kahn Swick & Foti, LLC attorneys are available to discuss your legal options.

About the lawsuit

LifeStance and certain of its executives are accused of failing to disclose material information in its IPO registration statement in violation of federal securities laws.

The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company’s outpatient/virtual revenue growth was negatively impacted by a decline in virtual visits following the lifting of COVID-19 lockdowns; (ii) an increased number of post-lockdown in-person visits led to a significant increase in operational costs; (iii) its physician retention rate had fallen well below the 87% highlighted in the IPO’s registration statement, resulting in additional costs of hiring new physicians who were less productive than the departing physicians they replaced; and (iv) as a result, LifeStance Health’s business and financial prospects were not as strong as represented by the IPO registration statement.

The case is Nayani v LifeStance Health Group, Inc., No. 22-cv-06833.

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