NEW YORK, March 23, 2024 (GLOBE NEWSWIRE) -- 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 contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether agilon and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until May 20, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired agilon securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com. 

[Click here for information about joining the class action]    

On November 2, 2023, agilon reported lower-than-expected third quarter 2023 results due to increased utilization and medical costs. The Company also lowered its 2023 full-year revenue outlook and informed investors that agilon had increased its incurred-but-not-reported reserve to account for prior period medical expenses.
On this news, agilon’s stock price fell $2.23 per share, or 13.2%, to close at $14.66 per share on November 3, 2023.

Then, on January 5, 2024, agilon surprised investors again by lowering its 2023 profit forecasts. Specifically, the Company reduced its 2023 Medical Margin and Adjusted EBITDA guidance, citing high-than-expected medical costs. Specifically, agilon reduced its 2023 Medical Margin and Adjusted EBITDA outlooks by more than $110 million and $73 million, respectively. agilon also announced that its Chief Financial Officer Timothy Bensley would retire and be replaced later in the year.

On this news, agilon’s stock price fell $3.45 per share, or 28.56%, to close at $8.63 per share on January 5, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980

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