NEW YORK, NY / ACCESSWIRE / November 20, 2020 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against GoHealth, Inc. ("GoHealth" or "the Company") (NASDAQ:GOCO) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired GoHealth securities Class A common stock issued in connection with its July 2020 initial public stock offering (the "IPO"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/goco.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) since the first half of 2020, the Medicare insurance industry was undergoing a period of elevated churn; (2) the Company was exposed to a higher risk of customer churn due to its unique business model and limited carrier base; (3) the Company 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 its efforts to expand into new geographies, develop new carrier partnerships and worsening product mix; (4) the Company had entered into materially less favorable revenue sharing arrangements with its external sales agents; and (5) these adverse financial and operational trends were internally projected by GoHealth to continue and worsen following the IPO.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/goco or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in GoHealth you have until November 20, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC