Robbins LLP is Investigating the Allegations that agilon health, inc. (AGL) Misled Investors Regarding Medical Costs
Robbins LLP informs investors that a shareholder filed a class action on behalf of (a) all persons and entities that purchased or otherwise acquired agilon health, inc. (NYSE: AGL) common stock between January 9, 2023 and January 4, 2024, and (b) all persons and entities that purchased or otherwise acquired agilon health, inc. common stock in connection with the Company’s May 2023 secondary public offering (“SPO”). Agilon generates profits from reducing medical expenditures.
The Allegations
According to the complaint, during the class period and in the SPO materials, defendants misled investors about agilon’s medical costs by: (1) touting the Company’s purported visibility into utilization trends and medical costs; (2) failing to disclose increased medical costs that agilon had incurred prior to and during the class period due to higher utilization of healthcare by MA patients; (3) falsely stating that its IBNR Reserve was adequate; (4) making false and misleading statements about the effectiveness of its business model; (5) issuing overly optimistic financial guidance; and (6) issuing risk disclosures that were materially false and misleading because they characterized adverse facts that had already materialized as mere possibilities.
The truth about the higher medical costs emerged as the Company reported lower-than-expected financial results and lower expectations for future revenue. As a result, the price of the Company’s share price fell, harming investors.
What Now: You may be eligible to participate in the class action against agilon health, inc. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by May 20, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
