The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Oscar Health, Inc. (NYSE: OSCR) Class A common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s March 2021 initial public offering.
According to the Oscar lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Oscar was experiencing growing COVID-19 testing and treatment costs; (2) Oscar was experiencing growing net COVID costs; (3) Oscar would be negatively impacted by an unfavorable prior year Risk Adjustment Data Validation result relating to 2019 and 2020; (4) Oscar was on track to be negatively impacted by significant SEP membership growth; and (5) 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.
If you suffered a loss in Oscar you have until July 11, 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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