LOS ANGELES, CA / ACCESSWIRE / October 4, 2022 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against LifeStance Health Group, Inc. ("LifeStance" or "the Company") (NASDAQ:LFST) for violations of the federal securities laws.
Investors who purchased the Company's shares pursuant and/or traceable to the Company's initial public offering conducted on June 10, 2021 (the "IPO"), are encouraged to contact the firm before October 11, 2022.
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. LifeStance suffered from a decrease in virtual visits by clients as COVID-19 lockdowns were ending, negatively impacting its out-patient/virtual revenue growth. The Company's operating expenses significantly increased as the number of in-person visits were increasing. The Company lost a significant number of physicians to burn-out, dropping its retention rate below the 87% retention rate touted in the IPO materials. Based on these facts, the Company's public statements were false and materially misleading throughout the IPO period. When the market learned the truth about LifeStance, 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.
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SOURCE: The Schall Law Firm