SAN
DIEGO, March 22, 2024 /PRNewswire/ -- DiCello
Levitt LLP announces that purchasers or acquirers of Agilon Health,
Inc. ("Agilon" or the "Company") (NYSE: AGL) common stock between
January 9, 2023 and January 4, 2024, inclusive (the "Class Period"),
have until May 20, 2024 to seek
appointment as lead plaintiff of the Agilon class action lawsuit.
The Agilon lawsuit charges the Company, certain senior
executive officers, and the Company's underwriters with violations
of the federal securities laws.
If you purchased shares of Agilon common stock
between January 9, 2023 and
January 4, 2024, including pursuant
to the Company's May 2023 secondary
public offering ("SPO"), and suffered substantial losses, and you
wish to serve as lead plaintiff in this lawsuit, you may submit
your information here:
https://dicellolevitt.com/securities/agilon-health/
You can also contact DiCello Levitt partner
Brian O'Mara by calling (888)
287-9005 or at investors@dicellolevitt.com.
No Class Has Been Certified. Until a class is
certified, you are not represented by counsel unless you retain
one. You may select counsel of your choice. You may also remain an
absent class member and do nothing at this point. An investor's
ability to share in any potential future recovery is not dependent
upon serving as lead plaintiff.
Case Allegations: The Agilon lawsuit
alleges that throughout the Class Period and in the
SPO materials, Defendants issued false and misleading statements
about Agilon's medical costs, including about: (1) the Company's
purported visibility into utilization trends and medical costs; (2)
Agilon's increased medical costs incurred prior to and during the
Class Period due to higher utilization of healthcare by Medicare
Advantage patients; (3) the adequacy of its
incurred-but-not-reported reserve ("IBNR Reserve"); (4) the
effectiveness of Agilon's business model; (5) Agilon's
overly-optimistic financial guidance; and (6) the Company's risk
disclosures that mischaracterized as mere possibilities adverse
facts that had already materialized.
On November 2,
2023, Agilon reported lower-than-expected third quarter 2023
results due to increased utilization and medical costs, lowered the
Company's 2023 full-year revenue outlook, and informed investors
that Agilon had increased its IBNR Reserve to account for prior
period medical expenses. On this news, Agilon's stock price
fell $2.23, or 13.2%, to close at
$14.66 on November 3, 2023.
Then, on January 5,
2024, Agilon lowered its 2023 profit forecasts and 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. On this
news, Agilon's stock fell a further $3.45, or 28.6%, to close at $8.63 on January 5,
2024.
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Attorney Advertising. Prior results do not
guarantee a similar outcome.
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SOURCE DiCello Levitt LLP