OTRKP - OTRK LOSSES ALERT: Bernstein Liebhard LLP Announces it is Investigating Ontrak Inc. for Violations of the Securities Laws

PR Newswire

NEW YORK , March 4, 2021 /PRNewswire/ -- Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating securities fraud claims on behalf of shareholders of Ontrak, Inc. ("Ontrak" or the "Company") (NASDAQ: OTRK) resulting from allegations that Ontrak might have issued misleading information to the investing public.

If you purchased Ontrak securities, and/or would like to discuss your legal rights and options please visit Ontrak Shareholder Investigation or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com .

On March 1, 2021 , Ontrak issued a press release announced preliminary financial results for fourth quarter and full year 2020.  Therein, the Company stated that its largest customer had terminated its contract with Ontrak, effective, June 26, 2021

The Company stated that this customer evaluated Ontrak on a provider basis and [a]s such, the customer evaluated [Ontrak's] performance based on [its] ability to achieve the lowest possible cost per medical visit, and not on [its] clinical outcomes data or medical cost savings. The Company also stated that the coaching model which Ontrak has pioneered for over a decade was seen by the customer to be less relevant to their performance metrics. On this news, the Company's share price fell $27.32 , or more than 46%, to close at $31.62 per share on March 1, 2021 , thereby injuring investors.

If you purchased Ontrak securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/ontrakinc-otrk-shareholder-class-action-lawsuit-stock-fraud-373/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com .

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com

SOURCE Bernstein Liebhard LLP