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LAWSUITS FILED AGAINST OTRK, ROOT and ACAD - Jakubowitz Law Pursues Shareholders Claims

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NEW YORK, NY / ACCESSWIRE / April 30, 2021 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.

Ontrak, Inc. (NASDAQ:OTRK)

CONTACT JAKUBOWITZ ABOUT OTRK:
https://claimyourloss.com/securities/ontrak-inc-loss-submission-form/?id=15369&from=1

Class Period : November 5, 2020 - February 26, 2021

Lead Plaintiff Deadline : May 3, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Ontrak's largest customer evaluated the Company on a provider basis, valuing Ontrak's performance based on achieving the lowest cost per medical visit rather than clinical outcomes or medical cost savings; (2) as a result, Ontrak's largest customer did not find the Company's program to be effective and was reasonably likely to terminate its contract with Ontrak; (3) because this customer accounted for a significant portion of the Company's revenue, the loss of the customer would have an outsized impact on Ontrak's financial results; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Root, Inc (NASDAQ:ROOT)

CONTACT JAKUBOWITZ ABOUT ROOT:
https://claimyourloss.com/securities/root-inc-loss-submission-form/?id=15369&from=1

This lawsuit is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Root Class A common stock pursuant and/or traceable to the Offering Documents issued in connection with the Company's initial public offering conducted on or about October 28, 2020.

Lead Plaintiff Deadline : May 18, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Root would foreseeably fail to generate positive cash flow for at least several years following the IPO; (ii) accordingly, the Company would foreseeably require significant cash infusions to meet its cash flow needs; (iii) notwithstanding the Defendants' touting of Root's purportedly unique, data-driven advantages, several of the Company's established industry peers in fact possessed significant competitive advantages over Root with respect to, inter alia, telematics data and data engagement; and (iv) as a result, the Offering Documents and Defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein.

Acadia Pharmaceuticals Inc. (NASDAQ:ACAD)

CONTACT JAKUBOWITZ ABOUT ACAD:
https://claimyourloss.com/securities/acadia-pharmaceuticals-inc-loss-submission-form/?id=15369&from=1

Class Period : June 15, 2020 - April 4, 2021

Lead Plaintiff Deadline : June 18, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the materials submitted in support of the pimavanserin sNDA contained statistical and design deficiencies; (ii) accordingly, the pimavanserin sNDA lacked the evidentiary support that the Company had led investors to believe it possessed; (iii) the FDA was unlikely to approve the pimavanserin sNDA in its present form; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

SOURCE: Jakubowitz Law



View source version on accesswire.com:
https://www.accesswire.com/643634/LAWSUITS-FILED-AGAINST-OTRK-ROOT-and-ACAD--Jakubowitz-Law-Pursues-Shareholders-Claims