agilon Health, Inc. (NYSE: AGL)

This lawsuit is for anyone who acquired securities in agilon Health, inc. (NYSE: AGL) from April 15, 2021 through February 27, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, in the Prospectus to the Company’s secondary offering, and throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to timely inform investors that patients were using more medical services the Company was providing for a fixed fee than the Company expected, thereby increasing the Company’s costs.

On November 2, 2023, agilon released its third quarter 2023 financial results, reporting lower-than-expected numbers due to increased utilization and medical costs. Additionally, the Company lowered its full-year guidance, stating that it had increased its incurred-but-not-reported (“IBNR”) reserve to account for prior expenses. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on January 5, 2024, agilon lowered its 2023 Medical Margin outlook by approximately $110 million and its Adjusted EBITDA outlook by $73 million, citing higher-than-expected medical costs. Further, the Company announced the retirement of its Chief Financial Officer. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume. On February 27, 2024, Agilon issued a press release revealing that the Company’s medical costs and utilization rates were even higher than the already disappointing results previously represented. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in agilon Health, Inc. (NYSE: AGL) from April 15, 2021 through February 27, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.