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SAN FRANCISCO, Aug. 21, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Evolent Health, Inc. (NYSE: EVH) of the October 7, 2019 lead plaintiff deadline in a federal securities class action filed against the Company.
If you invested in Evolent Health between March 3, 2017 and May 28, 2019 (the “Class Period”) and suffered significant losses (in excess of $100,000) you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case. The Lead Plaintiff deadline is October 7, 2019.
Contact Hagens Berman immediately to learn more about this case and being a lead plaintiff:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
According to the Complaint, Defendants misled investors by misrepresenting and concealing (1) Evolent’s business model was designed to inflate its revenue by extracting enormous fees at the expense of its operating partners such as Passport and, therefore, did not align its interests with those of its partners, (2) the model became increasingly unsustainable after Kentucky cut its reimbursement rates, (3) Evolent was draining Passport of functions, employees and money, further undermining Passport’s solvency, and (4) Passport was trying to sell itself for several months to avoid liquidation.
On May 29, 2019 Evolent shocked investors when it unexpectedly announced it was buying a controlling interest in Passport. This news drove the price of Evolent shares sharply lower.
“We’re focused on Defendants’ statements about having no plans to buy Passport or any other health plans for the foreseeable future may have misled investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Evolent Health should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email EVH@hbsslaw.com.
About Hagens Berman
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Reed Kathrein, 510-725-3000