Trending...
- One Night. One Encounter. A New Season Of Purpose
- We are Talker Study: 64% of AI Users Have Bought From a Brand AI Introduced, as The Invisible Shortlist Reshapes Brand Discovery
- Bountiful Bowl Aims to Raise $50,000 to Support Meals on Wheels of the Greater Lehigh Valley
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
- Tampa Web Design Launches New Website for Entrepreneur and Capital Markets Advisor Martin Sumichrast
- Miami Dade College and World Affairs Council of Miami announce Navarro-Cabrera scholarship
- Bridging Canvas and Cosmos: How Bioengineer Farin DeBose Captured the Essence of "True Science"
- RPP to host first Professional Padel Week in Miami and announce the 2026 USA Awards winners
- UK Financial Ltd. Announces Maya Preferred PRA as First Fully Verified Asset on MAYA CHAIN; Chainlink Proof of Reserve Integration Planned for Network
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
- ALight Technology And Services Limited Advances Through Peachscore + Dealum Accelerator and Join LvlUp Labs
- NAO Releases Shopping Intelligence to Streamline Your Quest for Value
- International Misophonia Foundation Launches Sensory Accessible Technology Initiative to Address Overlooked Digital Accessibility Barriers
- The Robert Travers Team of Long & Foster Marks 300+ Homes Sold, Expands Seller Representation
- CLINIMED Becomes First Liposuction Cannula Maker to Offer 3D and AR Models of Its Cannula Range
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
0 Comments
Latest on The PennZone
- AeroNet Deploys netElastic vBNG and CGNAT with Tarana Wireless to Deliver Scalable, Fiber-Class Broadband Across Puerto Rico
- New Atlas Maps the 38 States Behind Every Conversation
- Atlanta Company Launches Free, Ad-Free, Nonpartisan Voter Planning App for All 50 States Ahead of the Nov. 3 Election
- Pastor Carlton L. Aiken Sr. Celebrates 55 Years with "Sermonic Selections"
- J. Wes Seeks Jazz Musicians, Vocalists and Bands for Philadelphia Live Music Event
- NECP Promotes Chertova to Senior Business Analyst
- Security Industry Veteran Anthony Rumore Launches AegisLead to Help Security Companies Find Business and Manage Growth
- Charlie Shaw and Patrick Carragher win SEO Agency of the Year 2026
- Canadian Woman Plants 1,667 Love Stories in a Field of Peonies That Could Bloom for 100 Years
- New Research Spotlight, Expanding TUSC2 Science & Strategic Development Milestones Put Gene Therapy Innovation into Focus for Genprex (NAS DAQ: GNPX)
- Beyond the Odds: BetQL Combines Sharp Money Trends and Real Time Odds to Help Bettors Find Value
- Mark Schork and Terri Smith Honored by Philadelphia Bar Association as 'Bar Stars'
- WebDrafter Welcomes Dreamwork Exteriors as a New Marketing Client
- Glenn Lyvers Wins 2nd Place in Arizona State Poetry Society 2026 Annual Contest
- Access Control Security Shares 5 Ways Retailers Can Prevent Holiday Theft
- Bountiful Bowl Aims to Raise $50,000 to Support Meals on Wheels of the Greater Lehigh Valley
- Extreme Lead Program Highlights $27 Real Human Traffic Test for Affiliate and Network Marketers
- Longevity Academy Features Gail Humble, MD of KLOTHO SKIN in the Longevity Leaders Project
- Datavalet Named One of Quebec's Best Workplaces™ for 2026
- Phinge Corporation Engages Sheridan Ross PC for Certain Intellectual Property Matters