Lead Plaintiff Deadline: 11/20/2020
SUMMARY OF CASE:
A securities class action has been filed against GoHealth, Inc. (GOCO) on behalf of all purchasers of GoHealth Class A common stock pursuant and/or traceable to the registration statement issued in connection with GoHealth’s July 2020 initial public offering. This case has been filed in the USDC – S.D.N.Y.
On July 15, 2020, GoHealth conducted its initial public offering (“IPO”), selling approximately 43,500,000 shares of common stock at $21.00 per share. Then, on August 19, 2020, in its first quarterly earnings report following the IPO, GoHealth announced that it incurred a net loss of $22.9 million after posting net income of $15.3 million in the prior-year period. On this news, the Company’s stock price fell $1.99 per share, or 10%, to close at $17.03 per share on August 20, 2020, representing a 18% decline from the IPO price.
On August 27, 2020, GoHealth opened at $13.60, a 35% decline from its IPO pice.