SAN DIEGO, July 11, 2022 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announced an update in the lawsuit that is pending for certain investors in NASDAQ: GOCO shares.
Investors, who purchased shares of GoHealth, Inc. in connection with GoHealth’s July 2020 initial public offering and continue to hold any of those NASDAQ: GOCO shares, have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1 (858) 779 - 1554.
On September 21, 2020, a lawsuit was filed against GoHealth, Inc. The plaintiff alleged that the Registration Statement that was filed in connection with GoHealth’s July 2020 IPO failed to disclose that GoHealth suffered from a higher risk of customer churn as a result of its unique business model and limited carrier base, that GoHealth suffered from degradations in customer persistency and retention as a result of elevated industry churn, vulnerabilities that arose from the Company’s concentrated carrier business model, and GoHealth’s efforts to expand into new geographies, develop new carrier partnerships and worsening product mix, that GoHealth had entered into materially less favorable revenue sharing arrangements with its external sales agents, and that these adverse financial and operational trends were internally projected by GoHealth to continue and worsen following the IPO.
On February 25, 2021, a consolidated Complaint was filed.
On April 26, 2021, the Defendants filed a Motion to Dismiss the consolidated Complaint.
On April 5, 2022, the Court issued an Order denying the Motion to Dismiss.
Those who purchased NASDAQ: GOCO shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
