| COMPANY |
Oscar Health, Inc. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
22-cv-03885 |
| JUDGE |
The Honorable Vernon S. Broderick |
| CLASS PERIOD |
March 3, 2021 and May 12, 2022 |
| SECURITY TYPE |
Class A Common Stock |
Case Background:
A class action lawsuit has been filed on behalf of those who purchased or acquired Oscar Health, Inc. (“Oscar”) (NYSE: OSCR) Class A common stock between March 3, 2021 and May 12, 2022, inclusive (the “Class Period”).
The complaint alleges that the Registration Statement was materially false and misleading and omitted to state that: (1) Oscar was experiencing growing COVID-19 testing and treatment costs; (2) Oscar was experiencing growing net COVID costs; (3) Oscar would be negatively impacted by an unfavorable prior year RADV result relating to 2019 and 2020; (4) Oscar was on track to be negatively impacted by significant SEP membership growth; and (5) as a result of the foregoing, the defendants’ positive statements about Oscar’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Current Status of Case:
On April 4, 2023, Defendants filed a Motion to Dismiss the action. The Motion to Dismiss is fully briefed by the parities and awaiting the Court’s ruling. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.