NEW ORLEANS, Oct. 04, 2022 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., are reminding investors that they still have time 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.
What you can do
As above, if you have purchased or acquired shares in LifeStance and would like to discuss your legal rights and how this case may affect you and your right to compensation for your economic loss, you may contact KSF Managing Partner Lewis at no obligation or cost to you Contact Kahn toll-free at 1-877-515-1850 or email ([email protected]) or visit us https://www.ksfcounsel.com/cases/nasdaqgs-lfst/ to learn more. If you wish to be a lead plaintiff in this class action lawsuit, you must file a petition with the court October 11, 2022.
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 for hiring new physicians who were less productive than the outgoing physicians they replaced; and (iv) consequently LifeStance…
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