|Company Name||Ontrak, Inc.|
|Class Period||November 5, 2020 to February 26, 2021|
|Motion Deadline||May 3, 2021|
The Thornton Law Firm alerts investors that a class action lawsuit has been filed on behalf of investors of Ontrak, Inc. (NASDAQ: OTRK). The case is currently in the lead plaintiff stage. Investors who purchased OTRK stock or other securities between November 5, 2020 and February 26, 2021 may contact the Thornton Law Firm’s investor protection team by submitting their information above. Investors may also email firstname.lastname@example.org or call 617-531-3917.
The case alleges that Ontrak and its senior executives made misleading statements to investors and failed to disclose that: (1) Ontrak’s largest customer evaluated Ontrak 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 Ontrak’s program to be effective and was reasonably likely to terminate its contract with Ontrak; and (3) because this customer accounted for a significant portion of Ontrak’s revenue, the loss of the customer would have an outsized impact on Ontrak’s financial results.
Interested Ontrak investors have until May 3, 2021 to retain counsel and apply to be a lead plaintiff if they are interested to do so. Investors do not need to be a lead plaintiff in order to be a class member. A lead plaintiff acts on behalf of all other investor class members in managing the class action. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.
Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.