DEADLINE: Bright Health Group, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

SAN DIEGO, January 8, 2022 / PRNewswire / – The Robbins Law Firm Geller Rudman & Dowd LLP announces that buyers of: (a) Bright Health Group, Inc. (NYSE: BHG) common stock as set out in the offer documents made in connection with Bright Health’s initial public offering on or at June 24, 2021 (the “IPO”); and / or (b) Bright Health Securities between June 24, 2021 and November 10, 2021, inclusive (the “Class Period”) has to March 7, 2022 Appointment as lead plaintiff in Marquez v. Bright Health Group, Inc., No. 22-cv-00101 (EDNY). Started on January 6, 2022, The Bright Health class action lawsuit charges Bright Health and some of its officers and directors with violating the Securities Act of 1933 and / or the Securities Exchange Act of 1934.

If you would like to act as the lead plaintiff in the Bright Health class action, please provide your information by clicking here. You can also contact Attorney JC Sanchez of Robbins Geller by phone at 800 / 449-4900 or by email at [email protected]. Motions by lead plaintiffs for the Bright Health class action must be filed with the court no later than. be submitted March 7, 2022.

CASE CLAIM: Bright Health is an integrated utility company engaged in the provision and funding of health insurance plans in the United States. Through its IPO, Bright Health sold approximately 51 million shares of common stock to the public at the offering price of $ 18.00 per share, for approximate proceeds of $ 887 million to Bright Health for applicable subscription discounts and commissions and before costs. Up or over June 24, 2021, Bright Health common stock was traded on the New York Stock Exchange under the symbol BHG.

The Bright Health class action alleges that the offering documents for the IPO were negligently prepared and as a result contained false statements of material facts or the failure to state other facts necessary to avoid misleading information and not in accordance with the rules have been drawn up and regulations for their production. Bright Health’s class action also alleges that during the class action period, the IPO and the defendants made false and / or misleading statements and / or failed to disclose: (i) Bright Health has its business and financial prospects after the IPO overrated; (ii) Bright Health was ill-equipped to deal with the impact of COVID-19-related costs; (iii) Bright Health saw a decrease in premium income because the risk adjustment for new lives was not recognized; (iv) all of the foregoing was reasonably likely to have had a material adverse effect on Bright Health’s business and financial condition; and (v) as a result, the initial public offering documents and defendants’ public statements during the class action period were materially inaccurate and / or misleading and did not contain any information to be disclosed.

on November 11, 2021, Bright Health announced third quarter 2021 results. Among other things, Bright Health reported earnings per share of $ 0.48 as calculated under United States generally accepted accounting principles, lack of consensus estimates of $ 0.31. Bright Health also reported a sharp increase in Bright Health’s medical expense ratio (“MCR”), advising investors that the MCR “for the third quarter of 2021 was 103.0%, an adverse impact of 540 basis points from COVID-19 -related costs and “an adverse impact of 900 basis points, primarily from an accumulated reduction in premium income due to the inability to capture risk adjustments for new lives.” Harmed investors.

At the time the Bright Health class action lawsuit is filed, Bright Health common stock will continue to price below the $ 18.00 Offer price per share.

THE LEAD APPLICANT PROCEEDING: The Private Securities Litigation Reform Act of 1995 allows any investor who has acquired: (a) Bright Health common stock pursuant to the offering documents issued in connection with and / or attributable to Bright Health’s initial public offering are; and / or (b) Bright Health Securities during the Class Action Period to apply for lead plaintiff in the Bright Health Class Action. A lead plaintiff is usually the applicant with the greatest financial interest in the legal protection sought by the alleged class, which is also typical and appropriate for the alleged class. A lead plaintiff is acting on behalf of all the other group members in directing the Bright Health class action lawsuit. The lead plaintiff can choose a law firm of their choice to bring the Bright Health class action lawsuit. An investor’s ability to participate in a possible future recovery of the Bright Health class action lawsuit is not dependent on being the lead plaintiff.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 offices across the country, Robbins Geller Rudman & Dowd LLP is the largest US law firm serving investors in securities class actions. Robbins Geller attorneys have accomplished many of the largest shareholder reclaims in history, including the largest stock class recovery reclaim of all time – $ 7.2 billion – in In re Enron Corp. Sec. Lit. ISS Securities Class Action Services 2020 Top 50 report ranked Robbins Geller # 1 in recovery $ 1.6 billion for investors this year, more than double the amount recovered from any other plaintiff firm. More information is available at http://www.rgrdlaw.com.

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Contact:
Robbins Geller Rudman & Dowd LLP
655 W. Broadway, San Diego, CA 92101
JC Sanchez, 800-449-4900
[email protected]

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SOURCE Robbins Geller Rudman & Dowd LLP

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