An investigation for investors in Accolade, Inc. (NASDAQ:ACCD) shares over potential securities laws violations by Accolade, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 05/10/2022 -- An investigation was announced over potential securities laws violations by Accolade, Inc. in connection with certain financial statements.
Investors who purchased shares of Accolade, Inc. (NASDAQ: ACCD), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on 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. 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.
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