Trending...
- Porter's Day Care Empowers Philadelphia's Future Through 45+ Years of Excellence
- Eastern Adjustment Group, LLP Provides Property Loss Advocacy and Claim Support
- YOKE Expands NIL Club Into Athlete-Led Commerce With Athlete Merch Launch
RADNOR, Pa.--(BUSINESS WIRE)--The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Oscar Health, Inc. (Oscar) (NYSE: OSCR). The action charges Oscar with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company's business, operations, and prospects. As a result of Oscar's materially misleading statements to the public, Oscar investors have suffered significant losses.
CLICK HERE TO SUBMIT YOUR OSCAR LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN YOUR BROWSER: https://www.ktmc.com/new-cases/oscar-health-inc?utm_source=PR&utm_medium=link&utm_campaign=oscar_health&utm_campaign=oscr&mktm=r
More on The PennZone
TO VIEW OUR VIDEO, PLEASE CLICK HERE
LEAD PLAINTIFF DEADLINE: JULY 11, 2022
CLASS PERIOD: PURSUANT AND/OR TRACEABLE TO OSCAR'S MARCH 2021 IPO THROUGH MAY 12, 2022
CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:
James Maro, Esq. (484) 270-1453 or Toll Free (844) 887-9500 or Email at info@ktmc.com
Kessler Topaz is one of the world's foremost advocates in protecting the public against corporate fraud and other wrongdoing. Our securities fraud litigators are regularly recognized as leaders in the field individually and our firm is both feared and respected among the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.
OSCAR'S ALLEGED MISCONDUCT
In March, 2021, Oscar conducted its IPO, selling 36,391,946 shares of Class A common stock at a price of $39.00 per share. Oscar received net proceeds of approximately $1.3 billion from the IPO.
On August 12, 2021, Oscar disclosed that its Medical Loss Ratio (MLR) for the second quarter of 2021 was 82.4%, an increase of 2170 basis points year-over year, claiming that the increase was primarily driven by meaningfully lower utilization in 2Q20 as a result of COVID-19, as well as higher COVID-19 testing and treatment costs. Oscar also disclosed that its net loss for the quarter was $73.1 million, an increase of $32.1 million year-over-year.
Then, on November 10, 2021, Oscar disclosed that its third quarter 2021 MLR increased 920 basis points year-over-year, to 99.7%. Oscar claimed, again, that the MLR increase was primarily driven by higher net COVID costs, as well as several other purported reasons. Oscar also disclosed that its net loss for the quarter was $212.7 million, an increase of $133.6 million year-over-year.
Following this news, Oscar's share price fell $4.05 per share, or 24.5%, to close at $12.47 per share on November 11, 2021. At the time of the filing of the complaint, Oscar stock has traded as low as $5.76 per share, a more than 85% decline from the $39.00 per share IPO price.
WHAT CAN I DO?
Oscar investors may, no later than July 11, 2022 seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Oscar investors who have suffered significant losses to contact the firm directly to acquire more information.
More on The PennZone
CLICK HERE TO SIGN UP FOR THE CASE
WHO CAN BE A LEAD PLAINTIFF?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
Contacts
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
info@ktmc.com
CLICK HERE TO SUBMIT YOUR OSCAR LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN YOUR BROWSER: https://www.ktmc.com/new-cases/oscar-health-inc?utm_source=PR&utm_medium=link&utm_campaign=oscar_health&utm_campaign=oscr&mktm=r
More on The PennZone
- UK Financial Ltd Launches UKFL Premier One as Its Official Broadcast Channel for Premium Content, Podcasts & Independent Expert Analysis
- HarryPotterObamaSonic10Inu (Ticker: BITCOIN) Is the Best Cryptocurrency in Global History
- Colonial Nissan Highlights 2026 Armada after Major Best Buy Award Win
- Dual-Engine Growth Strategy Unleashed Targeting a $9.1B Market and the Exploding AI Biotech Revolution: KALA BIO (N A S D A Q: KALA)
- The Finger Comb, a Dream Inspired 3-in-1 Styling Tool introduced by Andrea L. Randolph Introduces
TO VIEW OUR VIDEO, PLEASE CLICK HERE
LEAD PLAINTIFF DEADLINE: JULY 11, 2022
CLASS PERIOD: PURSUANT AND/OR TRACEABLE TO OSCAR'S MARCH 2021 IPO THROUGH MAY 12, 2022
CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:
James Maro, Esq. (484) 270-1453 or Toll Free (844) 887-9500 or Email at info@ktmc.com
Kessler Topaz is one of the world's foremost advocates in protecting the public against corporate fraud and other wrongdoing. Our securities fraud litigators are regularly recognized as leaders in the field individually and our firm is both feared and respected among the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.
OSCAR'S ALLEGED MISCONDUCT
In March, 2021, Oscar conducted its IPO, selling 36,391,946 shares of Class A common stock at a price of $39.00 per share. Oscar received net proceeds of approximately $1.3 billion from the IPO.
On August 12, 2021, Oscar disclosed that its Medical Loss Ratio (MLR) for the second quarter of 2021 was 82.4%, an increase of 2170 basis points year-over year, claiming that the increase was primarily driven by meaningfully lower utilization in 2Q20 as a result of COVID-19, as well as higher COVID-19 testing and treatment costs. Oscar also disclosed that its net loss for the quarter was $73.1 million, an increase of $32.1 million year-over-year.
Then, on November 10, 2021, Oscar disclosed that its third quarter 2021 MLR increased 920 basis points year-over-year, to 99.7%. Oscar claimed, again, that the MLR increase was primarily driven by higher net COVID costs, as well as several other purported reasons. Oscar also disclosed that its net loss for the quarter was $212.7 million, an increase of $133.6 million year-over-year.
Following this news, Oscar's share price fell $4.05 per share, or 24.5%, to close at $12.47 per share on November 11, 2021. At the time of the filing of the complaint, Oscar stock has traded as low as $5.76 per share, a more than 85% decline from the $39.00 per share IPO price.
WHAT CAN I DO?
Oscar investors may, no later than July 11, 2022 seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Oscar investors who have suffered significant losses to contact the firm directly to acquire more information.
More on The PennZone
- Additions of Tennant, Morrissey, Cummings, Hale Highlight Fandoms at FAN EXPO Philadelphia
- GitKraken Desktop 12.0 Introduces Agent Mode: Gives Developers Ultimate Control & Visualization While Scaling Parallel Agent Workflows
- 5 Things to Check Before Calling for AC Repair in Philly
- Go Dental Clinic Announces Upcoming Opening of New Branch in International City, Dubai
- Dog Grooming Businesses Turn to Performance-Based Platforms to Attract Local Clients
CLICK HERE TO SIGN UP FOR THE CASE
WHO CAN BE A LEAD PLAINTIFF?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
Contacts
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
info@ktmc.com
Filed Under: Business
0 Comments
Latest on The PennZone
- Acuvance Appoints Sandeep Sabharwal to Board of Directors, Strengthening Leadership to Support Continued Platform Growth
- Grange Insurance Association to Rebrand as Granwest Insurance on July 1, 2026
- Dr. Rosendo Icochea, MD Recognized for Contributions to Surgical Education and Medical Research
- Giftella Launches AI Gift-Finder App That Replaces Guesswork With Personalized Picks in Seconds
- Beverly.io Announces Nationwide Expansion and Poppins Payroll Partnership for Families
- Collectors gathered 'round the playing circle to compete for the rarest and best examples at Morphy's April 11 Premier Marbles auction
- New Book: The Battle for Truth and Shadows - Guardians of Light - Epic Fantasy Unveils a War Between Light and Deception
- Clash of Prompts: The World's First AI Prompt Battle Royale
- $7.6 Billion US Crypto ATM Market by 2034; California and Texas Crypto ATM Deployments for Bitcoin Bancorp (Stock Symbol: BCBC); 1000 Kiosk Inventory
- MainConcept Announces Multiview Encoding for Apple Immersive Video
- CCHR Rejects Global Psychiatric Push to Electroshock Children
- iVAM2-ST2110 to Simplify IP Transitions and Reduce Monitoring Complexity
- Americans Leave Behind or Discard 42% of Their Belongings When Moving Out for the First Time, Talker Research Finds
- Central Florida Luxury Real Estate Firm DANHOLM COLLECTION Partners with Luxury Presence to Expand Global Buyer Reach
- Advantage Marketing Launches 3-Minute Assessment to Help SMBs Diagnose and Fix Marketing Gaps
- RemodelCalculators.com Launches 15 Free Home Renovation Tools
- InterMountain Management Announces the Re-opening of Holiday Inn Express & Suites Alexandria
- CB Stuffer Expands New England Footprint with Launch at Common Man Roadside in Hooksett, NH
- Contracting Resources Group Named to the 2026 Inc. Regionals: Mid-Atlantic List
- Bishop Mary's WWDB 860 AM Show Nears Historic 250-Episode Milestone