Press release
Investigation announced for Investors in shares of Accolade, Inc. (NASDAQ: ACCD)
An investigation for investors in Accolade, Inc. (NASDAQ: ACCD) shares over potential securities laws violations by Accolade, Inc.
Investors who purchased shares of Accolade, Inc. (NASDAQ: ACCD), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Accolade, Inc. (NASDAQ: ACCD) concerning whether a series of statements by Accolade, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Plymouth Meeting, PA based Accolade, Inc. develops and provides technology-enabled solutions that help people to understand, navigate, and utilize the healthcare system and their workplace benefits in the United States. Accolade, Inc. reported that its Total Revenue rose from $132.5 million for the 12 months period that ended on February 29, 2020 to $170.35 million for the 12 months period that ended on February 28, 2021, and that its Net Loss over those respective time periods declined from $51.36 million to $50.65 million.
On April 28, 2022, after market hours, Accolade, Inc. released its 2022 4th quarter financial results. Accolade revealed that "a large customer notified us that they would be ending their service relationship with us after the end of calendar 2022." Furthermore, Accolade, Inc. reported steep losses, with a quarterly loss of $0.27 per share, missing consensus estimates. During the earnings call, Accolade CEO Rajeev Singh revealed that the 'large customer' was Comcast, one of Accolade's largest and oldest customers.
Shares of Accolade, Inc. (NASDAQ: ACCD) declined from $19.39 per share on April 4, 2022, to as low as $4.61 per share on April 29, 2022.
Those who purchased shares of Accolade, Inc. (NASDAQ: ACCD) have certain options and should contact the Shareholders Foundation.
Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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