Archived Investigations
agilon health, inc. (NYSE: AGL)
Agilon and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
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.
On this news, the price of agilon’s shares fell $3.45, or 28.6%, to close at $8.63 on January 5, 2024.
The first-filed case is New England Teamsters Pension Fund v. agilon health, inc., 24-cv-00297. A second case, Hope v. agilon health, inc., 24-cv-00305, extended the Class Period. A third case, Indiana Public Retirement System v. agilon health, inc., 24-cv- 2506, extended the Class Period and Class Definition.