SAN FRANCISCO, Dec. 07, 2021 (GLOBE NEWSWIRE) -- Hagens Berman urges Oak Street Health, Inc. (NYSE: OSH) investors with significant losses to submit your losses now. The firm is investigating possible securities law violations and certain investors may have valuable claims.
Oak Street Health, Inc. (OSH) Investigation:
In the past Oak Street has repeatedly touted its “strong” growth, recently increased its FY 2021 revenue guidance, and maintained it complied with applicable federal laws and regulations.
On Nov. 8, 2021, Oak Street announced its Q3 2021 financial results, which included a slight miss from the consensus loss estimate. However, the company also disclosed it received a civil investigative demand (“CID”) on Nov. 1, 2021, indicating the U.S. Department of Justice is investigating the company’s relationships with third-party marketing agents and whether the company’s provision of free transportation to federal health care beneficiaries violated the federal False Claims Act.
This news sent the price of Oak Street shares sharply lower on Nov. 9, 2021.
“We’re focused on investors’ losses and whether Oak Street may have misled investors about its compliance with the FCA and possibly overstated its revenues,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Oak Street and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Oak Street should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email OSH@hbsslaw.com.
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Reed Kathrein, 844-916-0895