StockNews.AI
AGL
StockNews.AI
2 days

AGILON HEALTH INVESTIGATION CONTINUED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of agilon health, inc. - AGL

1. agilon health lowered its 2023 profit forecasts significantly. 2. Company faces a securities class action lawsuit due to non-disclosure. 3. Court denied motion to dismiss lawsuit, increasing legal risks. 4. Retirement of CFO adds to management uncertainty.

9m saved
Insight
Article

FAQ

Why Very Bearish?

The lowered profit forecasts and ongoing litigation create significant financial and operational uncertainty, often leading to stock price declines. Similar past cases, like those of Theranos or Valeant, saw stock prices decline sharply amid litigation and guidance cuts.

How important is it?

The ongoing legal issues and lowered guidance significantly impact investor sentiment and future profitability, directly affecting share performance.

Why Short Term?

Immediate investor reactions likely due to the legal developments and profit cuts. Typically, significant layoffs or executive changes trigger short-term volatility.

Related Companies

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has continued its investigation into agilon health, inc. ("agilon" or the "Company") (NYSE:AGL).

On January 5, 2024, the Company disclosed that it was slashing its 2023 profit forecasts, specifically, lowering its 2023 Medical Margin expectation to "$340 million to $360 million, approximately $110 million below the previous guidance range…due to $90 million in higher-than-expected medical costs" and that its Chief Financial Officer, Timothy Bensley would retire and be replaced later in the year.

Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws. Recently, the court denied the Company's motion to dismiss the case in part, allowing the case to continue.

KSF's investigation is focusing on whether agilon's officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of agilon shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-agl/ to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, New Jersey, and a representative office in Luxembourg.

TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services

To learn more about KSF, you may visit www.ksfcounsel.com.

CONNECT WITH US: Facebook || Instagram || YouTube || TikTok || LinkedIn

Kahn Swick & Foti, LLC

Lewis Kahn, Managing Partner

lewis.kahn@ksfcounsel.com

1-877-515-1850

1100 Poydras St., Suite 960

New Orleans, LA 70163

Related News