NEW YORK, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating claims of violations of federal securities laws on behalf of investors of LifeStance Health Group, Inc. (“LifeStance” or the “Company”) (NASDAQ: LFST). If you are a shareholder of LifeStance with more than $100,000 in losses, you should contact the Firm.
LifeStance claims to have built one of the nation’s largest outpatient mental health platforms based on the number of clinicians and on geographic scale.
On or about June 10, 2021, LifeStance conducted its IPO, making available 40 million shares to the general public at $18 per share for gross proceeds of $720 million.
On August 11, 2021, after the market closed, LifeStance released its second quarter 2021 results, revealing wider-than-expected net losses and soft growth expectations, which missed analysts’ estimates.
Among other items, LifeStance reported a net loss for the quarter more than double that incurred in the same period in the prior year and estimated third quarter revenues that fell short of consensus expectations. During an earnings call that same day, the Company's senior management in part blamed increased clinician turnover for the downward pressure on financial performance, indicating that they had identified this trend at least as early as midway through the second quarter of 2021, and explained that new clinicians would be less productive for up to six months.
On this news, LifeStance's stock price fell $10.16 per share, or 46.46%, to close at $11.71 per share on August 12, 2021.
If you are a shareholder of LifeStance, and wish to participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7256 or via email at investigations@lowey.com.
Whistleblowers: Persons with non-public information regarding LifeStance 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.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
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Lowey Dannenberg P.C.
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Tel: (914) 733-7256
Email: investigations@lowey.com
