Grabar Law Office Investigates Claims on Behalf of Shareholders of Bright Health Group, Inc. (BHG)

Philadelphia, Pennsylvania--(Newsfile Corp. - August 14, 2023) - A securities fraud class action complaint alleges Bright Health Group, Inc.'s (NYSE: BHG) IPO Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact were not prepared in accordance with the rules and regulations governing their preparation. Additionally, the Complaint alleges that the Bright Health, through certain of its officers and directors, made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, the Complaint alleges the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (i) Bright Health had overstated its post-IPO business and financial prospects; (ii) the Company was ill-equipped to handle the impact of COVID-19-related costs; (iii) the Company was experiencing a decline in premium revenue because of a failure to capture risk adjustment on newly added lives; (iv) all the foregoing was reasonably likely to have a material negative impact on Bright Health's business and financial condition; and (v) as a result, the Offering Documents and Defendants' public statements thereafter were materially false and/or misleading and failed to state information required to be stated therein.

Current Bright Health shareholders who have held Bright Health shares since on or traceable to Bright Health's June 24, 2021 IPO, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them.

If you would like to learn more about this matter, you are encouraged to contact us at jgrabar@grabarlaw.com, visit https://grabarlaw.com/the-latest/bright-health-shareholder-investigation/, or call 267-507-6085.

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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177078