SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Lawsuit Against agilon Health, Inc.

NEW YORK, May 16, 2024 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against agilon Health, Inc. (“Agilon” or the “Company”) (NYSE: AGL). Such investors are advised to get in touch Danielle Peyton at (email protected) or 646-581-9980 (or 888.4-POMLAW), toll free, ext. 7980. Those who inquire by email are asked to provide their mailing address, telephone number and the number of shares purchased.

The class action lawsuit concerns whether Agilon and certain of its officers and/or directors engaged in securities transactions Fraud or other unlawful business practices.

You have until May 20, 2024to ask the Court to appoint you as lead plaintiff for the class if you are a stockholder who purchased or otherwise acquired Agilon securities during the Class Period. You can obtain a copy of the complaint at aT www.pomerantzlaw.com.

(Click here for information about joining the class action lawsuit)

At April 15, 2021Agilon conducted its IPO and sold over 53 million shares of its stock $23.00 per share.

At November 2, 2023Agilon issued a press release announcing its financial results for the third quarter of 2023.

In it, Agilon pointed to a significant deterioration in its medical margins, which amounted to just under $2.5 billion 108 million dollars for the quarter was well below analyst consensus estimates, in part because of this 9 million dollars in previously unreported losses from the previous year. In addition, Agilon announced that it had suffered damage 6 million dollars Loss in quarterly adjusted EBITDA, which also fell short of analyst estimates and significantly reduced its expected 2023 medical margins. In a related earnings conference call, Agilon executives revealed that the company had suffered higher utilization rates earlier in the year, had already significantly reduced the reserves it had set aside to cover increased costs and was adding more 30 million dollars draw on its reserves due to the potential for higher utilization trends to continue.

On this news, Agilon’s share price fell $2.23 per share or 13% to close $14.66 per share November 3rd2023.

At January 5, 2024In 2020, Agilon issued a press release indicating that the company had historically incurred significantly higher medical costs than previously disclosed and, as a result, again significantly reduced its expected 2023 medical margin. Agilon also said its adjusted EBITDA fell significantly, withdrew its 2026 guidance and gave a gloomy outlook for 2024. Separately, Agilon announced that its chief financial officer would be stepping down from the position. During a related earnings conference call that day, management admitted, among other things, that Agilon had failed to incorporate “elevated cost trends” into its previous guidance to investors.

On this news, Agilon’s share price fell $3.45 per share, or nearly 29%, to close $8.63 per share January 5th2024.

Then further February 27, 2024In 2020, Agilon issued a press release indicating that its medical costs and utilization rates were even higher than previously portrayed and that its medical margin was just under 20% in 2023 $299 million for the year well below the already reduced range of 340 million dollars To 360 million dollars. Among other things, Agilon also announced that it lowered its 2024 medical margin guidance by 27% and its 2024 adjusted EBITDA guidance from a $40 To 60 million dollars win to a $15 To 60 million dollars Loss.

On this news, Agilon’s share price fell $0.44 per share or 7% to close $6.04 per share March 1, 2024. In the following days, the Agilon share price continued to fall, falling to a low of just under USD 100,000 $5.66 per share.

Pomerantz LLP, with offices in new York, Chicago, Los Angeles, London, ParisAnd Tel Aviv, is considered one of the leading law firms in the areas of corporate, securities and antitrust litigation. Founded by the deceased Abraham L. PomerantzPomerantz, known as the dean of the class action bar, pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of securities victims Fraud, breaches of fiduciary duty and corporate misconduct. The company has recovered billions of dollars in damages on behalf of the class plaintiffs. See www.pomlaw.com.

Lawyer advertising. Previous results do not guarantee similar results.

CONTACT:
Danielle Peyton
Pomerantz LLP
(email protected)
646-581-9980 ext 7980

SOURCE Pomerantz LLP