Berman Tabacco Announces Investigation of Oak Street Health, Inc. (OSH) for Potential Securities Law Violations
Boston, Massachusetts--(Newsfile Corp. - November 10, 2021) - Berman Tabacco, a national law firm representing investors, is investigating potential securities law violations by Oak Street Health, Inc. ("Oak Street" or the "Company") (NYSE: OSH), a network of primary care centers for adults on Medicare. The Company currently operates more than 100 centers across 19 states.
On August 10, 2020, the Company completed its initial public offering in which it issued and sold 17,968,750 shares of common stock at an offering price of $21.00 per share.
On November 8, 2021, after the market close, the Company disclosed in a Form 10-Q filing with the Securities and Exchange Commission as follows:
"On November 1, 2021, the Company received a civil investigative demand ("CID") from the United States Department of Justice. According to the CID, the Department of Justice is investigating whether the Company may have violated the False Claims Act, 31 U.S.C. §§ 3729-3722. The CID requests certain documents and information related to the Company's relationships with third-party marketing agents and related to the Company's provision of free transportation to federal health care beneficiaries and requests information and documents related to such matters."
On this news, shares were down $9.75 per share (or 21%) to close at $37.14 per share on November 9, 2021.
If you purchased Oak Street securities, sustained substantial losses, and would like to discuss your legal rights and/or options, please submit your information here.
Berman Tabacco is a national law firm representing institutions and individuals in lawsuits, seeking to recoup losses caused by corporate and board misconduct and violations of the securities and antitrust laws. The firm has offices in Boston, Massachusetts and San Francisco, California.
This notice may constitute attorney advertising.
Jay Eng, Esq.
One Liberty Square
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102913