Alignment Healthcare, Inc. (NasdaqGS: ALHC)

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 commenced an investigation into Alignment Healthcare, Inc. (“Alignment” or the “Company”) (NasdaqGS: ALHC).

On July 8, 2026, reports emerged that a former Alignment executive had filed a whistleblower lawsuit alleging that the Company deliberately misclassified $8 million to $10 million in routine operating expenses as capital expenditures to boost its stock price and executive compensation. According to the lawsuit, this maneuver artificially inflated the Company’s adjusted EBITDA and allowed it to report its “first full year of positive adjusted EBITDA as a public company.” Then, on September 15, 2026, at the Baird Global Healthcare Conference, Kao declined to comment on the Company’s Star Ratings positioning, stating, “I cannot talk about it at all[.]” On October 8, 2026, Alignment disclosed that CMS had downgraded the Star Rating for its H3815 contract to 3.5, making the plan ineligible for quality bonus payments in fiscal 2028. Following these disclosures, the Company’s share price declined precipitously.

KSF’s investigation is focusing on whether Alignment’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 Alignment shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at (833) 938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or fill out the form on this page.