NEW YORK, June 9, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Oscar Health, Inc. (“Oscar” or the “Company”) (NYSE: OSCR). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Oscar and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around March 3, 2021, Oscar conducted its initial public offering (“IPO”), selling approximately 37 million shares of stock priced at $39.00 per share. Then, on May 13, 2021, Oscar reported its earnings for the first time since the Company’s IPO. Among other results, Oscar reported a loss of $87.4 million, or $0.98 per share, for the first quarter of 2021, compared to analysts estimates that the Company would report a loss of only $0.53 per share.
On this news, Oscar’s stock price fell $1.63 per share, or 7.36%, to close at $20.51 per share on May 13, 2021.
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