MONSEY, N.Y., Jan. 26, 2022 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether Oak Street Health, Inc. (NYSE: OSH) (“Oak Street”) and certain of its top executives have violated federal securities laws.
If you acquired OSH securities between August 6, 2020 and November 8, 2021, and suffered losses, and have questions about your legal rights, please contact us using the form below to discuss your options at no charge:
https://wohlfruchter.com/cases/oak-street-health/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On January 10, 2022, a class action lawsuit was filed against Oak Street Health and two of its top executives in the Northern District of Illinois (No. 22-cv-00149) on behalf of purchasers of OSH securities between August 6, 2020 and November 8, 2021, inclusive, alleging that Oak Street and its executives violated the Securities Exchange Act of 1934.
OSH shareholders have until March 14, 2022 to apply to serve as lead plaintiff in the lawsuit.
The lawsuit alleges that on November 8, 2021, after the market closed, Oak Street filed its third quarter quarterly report with the SEC on Form 10-Q for the quarter ended September 30, 2021, and therein disclosed that on November 1, 2021, the Company received a civil investigative demand (“CID”) from the United States Department of Justice (“DOJ”). According to the CID, the DOJ is investigating whether the Company violated the False Claims Act, and has requested documents and information related to Oak Street’s relationships with “third-party marketing agents” and Oak Street’s “provision of free transportation to federal health care beneficiaries.”
Since the disclosure of the DOJ investigation, OSH stock has dropped from a close of $46.89 on November 8, 2021, to a close of $17.09 on January 25, 2022.
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
