New York, New York--(Newsfile Corp. - April 30, 2021) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Ontrak, Inc. (NASDAQ: OTRK) alleging that the Company violated federal securities laws.
Class Period: November 5, 2020 and February 26, 2021
Lead Plaintiff Deadline: May 3, 2021
Learn more about your recoverable losses in OTRK:
http://www.kleinstocklaw.com/pslra-1/ontrak-inc-loss-submission-form?id=15365&from=5
The filed complaint alleges that Ontrak, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Ontrak's largest customer evaluated the Company on a provider basis, valuing Ontrak's performance based on achieving the lowest cost per medical visit rather than clinical outcomes or medical cost savings; (2) as a result, Ontrak's largest customer did not find the Company's program to be effective and was reasonably likely to terminate its contract with Ontrak; (3) because this customer accounted for a significant portion of the Company's revenue, the loss of the customer would have an outsized impact on Ontrak's financial results; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until May 3, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the OTRK lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82520
