NEW YORK, October 2, 2022 /PRNewswire/ —
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of LifeStance Health Group, Inc. (NASDAQ: LFST) pursuant to the registration statement and related prospectus (collectively, the ” registration statement”) issued in connection with LifeStance Health June 2021 initial public offering (the “IPO”), of the significant October 11, 2022 lead applicant deadline.
SO WHAT: If you have purchased LifeStance Health securities pursuant to and/or traceable to the registration statement, you may be entitled to compensation without payment of any fees or out-of-pocket costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the LifeStance Health class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=8073 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] Where [email protected] for more information on the class action. A class action lawsuit has already been filed. If you wish to act as lead plaintiff, you must move the Court not later than October 11, 2022. A lead plaintiff is a representative party acting on behalf of other class members to direct litigation.
WHY THE ROSEN LAW: We encourage investors to select qualified attorneys with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Many of these firms do not actually handle securities class action lawsuits, but are merely middlemen who refer clients or partner with law firms that actually litigate the cases. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company obtained more than $438 million for investors. In 2020, founding partner Laurence Rosen has been named by law360 as a Titan of the Plaintiffs Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
CASE DETAILS: According to the lawsuit, the IPO’s registration statement contained false and/or misleading statements and/or failed to state that: (1) the number of virtual visits that clients undertook using LifeStance Health decreased as COVID-19 lockdowns were lifted, capping LifeStance Health’s ambulatory/virtual revenue growth; (2) the percentage of in-person visits that clients were undertaking using LifeStance Health increased as COVID-19 lockdowns were lifted, resulting in a substantial increase in LifeStance Health’s operating expenses; (3) LifeStance Health had lost a large number of physicians to burnout and as a result, its physician retention rate had fallen significantly below the 87% evidenced in the company’s registration statement. IPO and LifeStance Health had spent additional costs onboarding new doctors who were less productive than the outgoing doctors they were replacing; and (4) as a result, LifeStance Health’s business metrics and financial outlook were not as strong as the IPO registration statement represented. When the real details entered the market, the lawsuit claims investors suffered damages.
To join the LifeStance Health class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=8073 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] Where [email protected] for more information on the class action.
No class has been certified. Until a class is certified, you are not represented by an attorney unless you retain one. You can choose the lawyer of your choice. You can also remain an absent group member and do nothing at this point. An investor’s ability to participate in any potential future recovery does not depend on their status as lead plaintiff.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
SOURCE Rosen Law Firm, Pennsylvania