NEW YORK, Jan. 27, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Oak Street Health, Inc. (“Oak Street” or the “Company”) (NYSE: OSH). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Oak Street and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 8, 2023, Oak Street filed its quarterly report with the U.S. Securities and Exchange Commission on Form 10-Q for the quarter ended September 30, 2023. Therein, Oak Health disclosed, in relevant part, that on November 1, 2023 the Company received a civil investigative demand (“CID”) from the United States Department of Justice (“DOJ”). According to the CID, the DOJ is investigating whether the Company violated the False Claims Act. The CID also requests documents and information related to the Oak Street’s relationships with “third-party marketing agents” and Oak Street’s “provision of free transportation to federal health care beneficiaries.”
On this news, Oak Street’s stock price fell $9.75 per share, or more than 20%, to close at $37.14 per share on November 9, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, 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 numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
