The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased Bright Health Group, Inc. (NYSE: BHG) : (a) common stock pursuant and/or traceable to the documents issued in connection with the Company’s initial public offering conducted on or about June 24, 2021; and/or (b) securities between June 24, 2021 and November 10, 2021.
According to the Bright Health lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Bright Health had overstated its post-IPO business and financial prospects; (ii) the Company was ill-equipped to handle the impact of COVID-19-related costs; (iii) the Company was experiencing a decline in premium revenue because of a failure to capture risk adjustment on newly added lives; (iv) all the foregoing was reasonably likely to have a material negative impact on Bright Health’s business and financial condition; and (v) as a result, the documents issued in connection with the IPO and Defendants’ public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
If you suffered a loss in Bright Health you have until March 7, 2022 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.
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