NEW ORLEANS, Sept. 30, 2022 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 11, 2022 to file lead plaintiff applications in a securities class action lawsuit against LifeStance Health Group, Inc. (NasdaqGS: LFST), if they purchased or acquired the Company’s Class A common stock pursuant and/or traceable to the Company’s June 2021 initial public offering (the “IPO”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased or acquired shares of LifeStance as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-lfst/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by October 11, 2022.
About the Lawsuit
LifeStance and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company’s out-patient/virtual revenue growth was negatively affected by a decrease in virtual visits after COVID-19 lockdowns were lifted; (ii) an increasing number of in-person visits post-lockdown resulted in substantial increases to operating expenses; (iii) its physician retention rate had fallen significantly below the 87% highlighted in the IPO’s registration statement leading to additional costs to bring on new physicians, who were less productive than the outgoing physicians they were replacing; and (iv) as a result, LifeStance Health’s business metrics and financial prospects were not as strong as the IPO’s registration statement represented.
The case is Nayani v. LifeStance Health Group, Inc., No. 22-cv-06833.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC