The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Bright Health Group, Inc. (NYSE: BHG) who purchased : (a) common stock pursuant and/or traceable to the documents issued in connection with the Company’s initial public offering conducted on or about June 24, 2021; and/or (b) securities between June 24, 2021 and November 10, 2021. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
In particular, the Bright Health lawsuit alleges that (i) Bright Health had overstated its post-IPO business and financial prospects; (ii) the Company was ill-equipped to handle the impact of COVID-19-related costs; (iii) the Company was experiencing a decline in premium revenue because of a failure to capture risk adjustment on newly added lives; (iv) all the foregoing was reasonably likely to have a material negative impact on Bright Health’s business and financial condition; and (v) as a result, the documents issued in connection with the IPO and Defendants’ public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
Shareholders have until March 7, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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