NEW YORK, June 9, 2021 / PRNewswire / – Pomerantz LLP is investigating claims on behalf of investors of Oscar Health, Inc. (“Oscar” or the “Company”) (NYSE: OSCR). These investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The purpose of the investigation is to determine whether Oscar and any of its officers and / or directors have engaged in securities fraud or other illegal business practices.
On or around March 3, 2021, Oscar completed its initial public offering (“IPO”), selling approximately 37 million shares at a price of $ 39.00 per share. Then on May 13, 2021, Oscar announced his earnings for the first time since the company’s IPO. Among other results, Oscar reported a loss of $ 87.4 million, or $ 0.98 per share, for the first quarter of 2021, compared to analysts’ estimates that the Company would report a loss of only $ 0.53 per share.
On this news, Oscar’s share price fell $ 1.63 per share, or 7.36%, to close at $ 20.51 per share on May 13, 2021.
The Pomerantz firm, with offices in new York, Chicago, Los Angeles, and Paris is recognized as one of the leading firms in the areas of corporate law, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz was a pioneer in the field of class actions in securities. Today, more than 80 years later, Pomerantz continues the tradition it established, fighting for the rights of victims of securities fraud, breach of fiduciary duty and corporate misconduct. The firm has recovered numerous multi-million dollar damages on behalf of the members of the group. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP