San Diego, CA -- (SBWIRE) -- 06/15/2021 -- An investigation was announced over potential securities laws violations by American Well Corporation in connection with certain financial statements.

Investors who purchased shares of American Well Corporation (NYSE: AMWL), 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 focuses on whether a series of statements by American Well Corporation (NYSE: AMWL regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Boston, MA based American Well Corporation operates as a telehealth company that enables digital delivery of care for healthcare.

On or about September 17, 2020 American Well Corporation (NYSE: AMWL) sold about 41.2 million shares of stock in its initial public stock offering (the "IPO") at $18.00 a share, raising nearly $742 million in new capital. On June 2, 2021, the stock closed at $13.03.

On March 24, 2011, American Well Corporation announced its financial resulrs for the fourth quarter and full year 2020. American Well Corporation reported that its annual Total Revenue rose from $148.85 million in 2019 to $245.26 million in 2020, and that Net Loss increased from $88.36 million in 2019 to $228.62 million in 2020.

Since the IPO shares of American Well Corporation (NYSE: AMWL) declined to as low as $9.69 per share on May 13, 2021. American Well Corporation also issued its initial outlook for 2021.

Those who purchased shares of American Well Corporation (NYSE: AMWL) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, 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, investigation, and/or settlements are not filed/reached and/or 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.