An investigation on behalf of current long term investors in Ontrak, Inc. (NASDAQ:OTRK) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 06/10/2021 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Ontrak, Inc..
Investors who are current long term investors in Ontrak, Inc. (NASDAQ: OTRK) shares, 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 for investors in Ontrak, Inc. (NASDAQ: OTRK stocks follows a lawsuit filed against Ontrak, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: OTRK stocks, concerns whether certain Ontrak, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the Defendants failed to disclose to investors that Ontrak's largest customer evaluated the Company 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, that, as a result, Ontrak's largest customer did not find the Company's program to be effective and was reasonably likely to terminate its contract with Ontrak, that, because this customer accounted for a significant portion of the Company's revenue, the loss of the customer would have an outsized impact on Ontrak's financial results, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Ontrak, Inc. (NASDAQ: OTRK) have certain options and should contact the Shareholders Foundation.
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