Glancy Prongay & Murray LLP Reminds Investors of Impending Deadline

LOS ANGELES, Sept. 29, 2022 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of what’s to come October 11, 2022 Deadline for filing a motion by lead plaintiff in the class action lawsuit filed on behalf of investors who have purchased or otherwise acquired LifeStance Health Group, Inc. (“LifeStance” or the “Company”) LFST Common Stock pursuant to and/or traceable to the registration statement and prospectus issued in connection with LifeStance’s initial public offering on June 10, 2021 (the “IPO”).

If you have suffered a loss on your LifeStance investments or would like to inquire about the possibility of making claims to recover your loss under federal securities laws, you may submit your contact information at www.glancylaw.com/cases/lifestance-health-group-inc/. You can also contact GPM’s Charles H. Linehan at 310-201-9150, toll free at 888-773-9224, or email at [email protected] to learn more about your rights.

On or about June 11, 2021, LifeStance completed its IPO and issued 46 million shares at $18 per share.

On August 11, 2021, LifeStance announced its financial results for the second quarter of 2021, which ended just days after the IPO. The company reported a net loss of $70 million and also announced that its operating expenses more than tripled in the second quarter. LifeStance stated that it experienced a significant, negative “recent change in employee retention rates.”

As a result of this news, the company’s stock price fell $10.16, or 46%, to close at $11.71 per share on August 12, 2021, hurting investors.

Then, on November 8, 2021, LifeStance reported its third quarter 2021 financial results and announced that “[c]clinical retention [had] stabilized at approximately 80% on an annualized basis in the third quarter” and that the company had to increase spending on “increasing clinician engagement and continued support for flexibility in the workplace and professional life.”

As a result of this news, the company’s share price fell $3.10, or 24%, to close at $9.73 per…


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