Investigation announced for Long Term Investors in shares of Bright Health Group, Inc. (NYSE: BHG)

An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Bright Health Group, Inc.

Investors who are current long term investors in Bright Health Group, Inc. (NYSE: BHG) shares, 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 for current long term investors in NYSE: BHG stocks follows a lawsuit filed against Bright Health Group, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: BHG stocks, concerns whether certain Bright Health Group directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Eastern District of New York the plaintiff alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation.

The plaintiff alleges that between June 24, 2021 and November 10, 2021, the Defendants made false and/or misleading statements and/or failed to disclose that Bright Health had overstated its post-IPO business and financial prospects, that the Company was ill-equipped to handle the impact of COVID-19-related costs, that the Company was experiencing a decline in premium revenue because of a failure to capture risk adjustment on newly added lives, that all the foregoing was reasonably likely to have a material negative impact on Bright Health's business and financial condition, and that as a result, the Offering Documents and Defendants' public statements between June 24, 2021 and November 10, 2021were materially false and/or misleading and failed to state information required to be stated therein.

Those who purchased shares of Bright Health Group, Inc. (NYSE: BHG) 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.

This release was published on openPR.