NEW ORLEANS, Sept. 06, 2022 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that they to have October 11, 2022 Filing of Lead Plaintiff’s Motions in a Securities Class Action Against LifeStance Health Group, Inc. LFSTif they purchased or acquired the Company’s Class A common stock pursuant to and/or traceable to the Company’s June 2021 initial public offering (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 (lewis.kahn@ksfcounsel.com), or visit 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 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 metrics are…
