SAN DIEGO, April 02, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that it has filed a class action lawsuit seeking to represent purchasers of agilon health, inc. (NYSE:AGL) common stock between April 15, 2021 and February 27, 2024, inclusive, including purchases traceable to the April 2021 initial public offering of agilon stock (the "IPO"). Captioned Indiana Public Retirement System v. agilon health, inc., No. 24-cv-02506 (S.D.N.Y.), the agilon class action lawsuit charges agilon and certain of agilon's top executives and directors, as well as certain underwriters of agilon's IPO with violations of the Securities Act of 1933 and/or Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the agilon class action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-agilon-health-inc-class-action-lawsuit-agl.html
You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the agilon class action lawsuit must be filed with the court no later than May 20, 2024.
CASE ALLEGATIONS: agilon operates healthcare networks of primary care physicians across various regional geographies.
The agilon class action lawsuit alleges that defendants throughout the Class Period and in the IPO's offering documents made false and/or misleading statements and/or failed to disclose that: (i) agilon's business model, purportedly focused on patient care rather than fee-for-service, was unable to provide the cost savings and the mitigation of medical expenses represented to investors; (ii) agilon's purported historical cost savings portrayed to investors in connection with the IPO were short-term effects of the COVID-19 pandemic and not indicative of the cost controls and incentives ostensibly inherent in agilon's business model; (iii) as a result of the above, agilon suffered from a material, undisclosed risk of higher utilization and medical claims rates once the short-term effects of the COVID-19 pandemic waned and the providers in agilon's network were poised to experience an upsurge in patient demand for medical services materially above the historical rate portrayed in the IPO offering documents; (iv) agilon suffered from materially higher utilization and medical claims rates throughout the Class Period as compared to prior year periods as patients who had delayed elective procedures and otherwise utilizing medical benefits during the COVID-19 pandemic ...