SAN DIEGO, CA / ACCESSWIRE / April 20, 2021 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in Ontrak, Inc. (NASDAQ:OTRK) shares.
Investors, who purchased shares of Ontrak, Inc. (NASDAQ:OTRK) prior to November 2020 and continue to hold any of their NASDAQ: OTRK shares, have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
On March 3, 2021, a lawsuit was filed against Ontrak, Inc. (over alleged violations of securities laws. The plaintiff alleged that the defendants failed to disclose to investors that Ontrak's largest customer evaluated the Company on a provider basis, valuing Ontrak's performance based on achieving the lowest cost per medical visit rather than clinical outcomes or medical cost savings, that, as a result, Ontrak's largest customer did not find the Company's program to be effective and was reasonably likely to terminate its contract with Ontrak, that, because this customer accounted for a significant portion of the Company's revenue, the loss of the customer would have an outsized impact on Ontrak's financial results, and that, 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.
Those who purchased Ontrak, Inc. (NASDAQ:OTRK) shares should contact the Shareholders Foundation, Inc.
Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
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.
SOURCE: Shareholders Foundation, Inc.