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GoHealth, Inc. Sued for Violations of the Federal Securities Laws: Investors Who Lost Money Should Contact Block & Leviton LLP

Block & Leviton LLP
·2 mins read

BOSTON, Sept. 21, 2020 (GLOBE NEWSWIRE) -- In July 2020, GoHealth, Inc. (NASDAQ: GOCO) went public, selling stock to investors at $21 per share. Just one month later, GoHealth reported an almost $23 million quarterly loss, in sharp contrast to the $15 million profit it earned in the prior year period.

A lawsuit filed against GoHealth alleges that GoHealth’s executives admitted that customer churn matched internal Company “expectations” and that churn was increasing, as internally expected, before and at the time of the IPO. However, GoHealth never revealed this information to its investors.

On this news, GoHealth’s stock fell from its August 19, 2020 closing price of $19.02 per share to an August 21, 2020 close of $15.97 per share. GoHealth’s stock has since closed as low as $12.53 per share, representing a decline of over 40% from the IPO price.

The lawsuit was filed in the U.S. District Court for the Northern District of Illinois, and is captioned Hudson v. GoHealth, Inc., et al., No. 1:20-cv-05593. The deadline to move the Court to be appointed lead plaintiff is November 20, 2020.

Block & Leviton LLP (www.blockesq.com), is a national securities litigation firm, that represents investors who lost money on their investments. If you GoHealth shares and lost money, you should contact us for a free case evaluation at (617) 398-5600, via email at cases@blockleviton.com, or at https://www.blockleviton.com/cases/goco.

Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.

This notice may constitute attorney advertising.

CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com
SOURCE: Block & Leviton LLP
www.blockleviton.com