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NEW YORK, Sept. 27, 2022 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP, a nationally recognized investor rights law firm, is reminding investors of the deadline for filing a motion by lead plaintiff in a securities class action lawsuit filed on behalf of investors, who have purchased or otherwise acquired the common stock of LifeStance Health Group, Inc. (“LifeStance” or the “Company”) LFST pursuant to and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with LifeStance’s initial public offering on June 10, 2021 (the “IPO”). The lawsuit was filed in the United States District Court for the Southern District of New York alleging violations of the Securities Exchange Act of 1933.
LifeStance is one of the nation’s largest providers of virtual and in-person outpatient mental health care. At the time of its IPO, the company operated 370 centers and employed 3,300 psychiatrists, nurses, psychologists and therapists in 27 states. The company provides virtual and in-person outpatient mental health care for children, adolescents and adults suffering from a variety of mental illnesses, including depression, anxiety disorders, schizophrenia and post-traumatic stress disorder.
The company benefited from the state and local lockdown measures necessitated by the COVID-19 pandemic beginning in Spring 2020. However, as of December 2020, multiple COVID-19 vaccines had been approved and administered, meaning LifeStance’s access to clients seeking virtual mental health services would decline significantly while demand for in-person services would increase. Meanwhile, LifeStance’s internal company records showed that providing virtual…
Read full story here https://www.benzinga.com/pressreleases/22/09/g29024386/lifestance-health-group-inc-nasdaq-lfst-shareholder-class-action-alert-bernstein-liebhard-llp-remi