YORK, July 1, 2022 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of Oscar Health, Inc. (NYSE:
To receive updates on the lawsuit, fill out the
This lawsuit is on behalf of persons and entities that purchased
or otherwise acquired Oscar Class A common stock pursuant and/or
traceable to the registration statement and prospectus issued in
connection with the Company's March
2021 initial public offering.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
July 11, 2022 to petition the
court. Your ability to share in any recovery doesn't require that
you serve as a lead plaintiff.
According to a filed complaint, Oscar Health, Inc. issued
materially false and/or misleading statements and/or failed to
disclose that: (1) Oscar was experiencing growing COVID-19 testing
and treatment costs; (2) Oscar was experiencing growing net COVID
costs; (3) Oscar would be negatively impacted by an unfavorable
prior year Risk Adjustment Data Validation result relating to 2019
and 2020; (4) Oscar was on track to be negatively impacted by
significant SEP membership growth; and (5) as a result of the
foregoing, defendants' positive statements about the Company's
business, operations, and prospects were materially misleading
and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
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SOURCE Jakubowitz Law