NEW YORK, June 10, Jun 10, 2020 (GLOBE NEWSWIRE via COMTEX) -- Pomerantz LLP is investigating claims on behalf of investors of Evolent Health, Inc. ("Evolent" or the "Company") /zigman2/quotes/207127728/composite EVH -2.17% . Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Evolent and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 29, 2020, Evolent issued a press release announcing, in relevant part, that "its partner, Passport Health Plan, received notification from the Kentucky Cabinet for Health and Family Services that Passport has not been awarded a Kentucky Managed Care Organization (MCO) contract for the next contract period, which commences January 1, 2021." Evolent further stated that it "will support Passport in protesting this decision" and "will continue to provide services to Passport until the new Medicaid contracts take effect on January 1, 2021."
On this news, Evolent's stock price fell $2.06 per share, or 23.2%, to close at $6.82 per share on June 1, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com .
Robert S. Willoughby
888-476-6529 ext. 9980
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