Bernstein Liebhard LLP proclaims {that a} securities class motion lawsuit has been filed towards Ontrak, Inc.



NEW YORK, March 4, 2021 (GLOBE NEWSWIRE) – Bernstein Liebhard, a nationally acknowledged investor rights regulation agency, proclaims {that a} securities class motion lawsuit has been filed on behalf of traders who’ve purchased or acquired the securities of Ontrak, Inc. (“Ontrak” or the “Firm”) (NASDAQ: OTRK) from November 5, 2020 to February 26, 2021 (the “Class Interval”). The lawsuit in the USA District Courtroom for the Central District of California alleges violations of the Securities Change Act of 1934.

When you has bought Ontrak securities and / or wish to focus on your rights and authorized choices please go to Ontrak Shareholder Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected]

The grievance alleges that all through the litigation interval, the defendants made materially false and / or deceptive statements, and didn’t open up to traders: (1) that Ontrak’s largest consumer valued the corporate on a vendor foundation, evaluating Ontrak’s efficiency within the lowest price per go to quite than scientific outcomes or medical price financial savings; (2) that consequently, Ontrak’s largest buyer didn’t discover the Firm’s program efficient and was fairly prone to terminate its contract with Ontrak; (3) that since this consumer represented a good portion of the Firm’s revenues, the lack of the consumer would have a disproportionate affect on Ontrak’s monetary outcomes; and (4) that as a result of foregoing, the Defendants’ optimistic statements concerning the Firm’s enterprise, operations and prospects have been materially deceptive and / or missing cheap foundation.

On March 1, 2021, Ontrak issued a press launch saying its preliminary monetary outcomes for the fourth quarter and full 12 months 2020. In that launch, the corporate stated its largest buyer had terminated its contract with Ontrak, efficient March 1, 2021. June 26, 2021.

The corporate stated this buyer rated Ontrak primarily based on a vendor and [a]s tel, the shopper rated [Ontrak’s] efficiency primarily based on [its] capacity to realize the bottom doable price per medical go to, and never [its] scientific end result information or medical price financial savings. The corporate additionally stated the teaching mannequin that Ontrak has been growing for greater than a decade is seen by the consumer as much less related to their efficiency metrics. At this information, the corporate’s inventory value fell $ 27.32, or greater than 46%, to shut at $ 31.62 per share on March 1, 2021, hurting traders.

When you want to act because the principal plaintiff, you will need to apply to the Courtroom no later than Might 3, 2021. A principal plaintiff is a consultant occasion appearing on behalf of the opposite members of the group within the course of the litigation. Your capacity to take part in any restoration doesn’t require you to behave because the principal applicant. When you select to do nothing, you may stay an absent group member.

When you has bought Ontrak securities and / or wish to focus on your rights and authorized choices please go to https://www.bernlieb.com/instances/ontrakinc-otrk-shareholder-class-action-lawsuit-stock-fraud-373/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected]

Since 1993, Bernstein Liebhard LLP has collected over $ 3.5 billion for its shoppers. Along with representing particular person traders, the agency has been retained by a number of the largest private and non-private pension funds within the nation to observe their property and take authorized motion on their behalf. Following its success in a whole bunch of lawsuits and sophistication actions, the agency was appointed to The Nationwide Regulation Journal’s “Scorching Record of Candidates” 13 occasions and listed in The Authorized 500 for ten consecutive years.

LAWYER ADVERTISING. © 2021 Bernstein Liebhard LLP. The regulation agency accountable for this commercial is Bernstein Liebhard LLP, 10 East fortieth Avenue, New York, New York 10016, (212) 779-1414. The legal professional accountable for this commercial within the state of Connecticut is Michael S. Bigin. Previous outcomes don’t assure or predict the same consequence with respect to any future matter.

Contact info
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
[email protected]



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