LOS ANGELES, CA / ACCESSWIRE / April 30, 2021 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Ontrak, Inc. ("Ontrak" or "the Company") (NASDAQ:OTRK) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between November 5, 2020 and February 26, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before May 3, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Ontrak's largest customer gauged the Company's performance on the basis of reaching the lowest cost per medical visit possible rather than patient outcomes or medical cost savings. This customer found the Company's program to be ineffective and was likely to terminate its contract. Because this customer represented a significant portion of the Company's revenue, the loss of this contract would have a significant impact on its financial results. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Ontrak, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
SOURCE: The Schall Law Firm