Bragar Eagel & Squire, PC Investigates OnTrak, Inc. on Behalf of Long-Term Shareholders and Encourages Investors to Contact the Company
NEW YORK, December 04, 2021– (COMMERCIAL THREAD) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Ontrak, Inc. (NASDAQ: OTRK) on behalf of shareholders at long term following a class action lawsuit filed against Ontrak on March 3, 2021. Our investigation examines whether OnTrak’s board of directors breached its fiduciary duties to the company.
The complaint alleges that throughout the Class Period, the Defendants made materially false and / or misleading statements, and failed to disclose material adverse facts regarding the business, operations and prospects of the Company. Specifically, the Defendants failed to disclose to investors: (1) that Ontrak’s largest customer valued the Company on a supplier basis, valuing Ontrak’s performance based on obtaining the lowest cost by medical visit rather than clinical results or medical cost savings; (2) that, as a result, Ontrak’s largest customer did not find the Company’s program effective and was reasonably likely to terminate its contract with Ontrak; (3) that, because this client represented a significant portion of the Company’s revenues, the loss of the client would have a disproportionate impact on Ontrak’s financial results; and (4) that as a result of the foregoing, the Defendants’ positive statements regarding the business, operations and prospects of the Company were materially misleading and / or lacked reasonable basis.
If you are a long-term shareholder of Ontrak, have any information, would like to learn more about these claims, or have any questions regarding this announcement or your rights or interests in any such matters, please contact Brandon Walker or Alexandra B Raymond by e-mail at [email protected], or by phone at (212) 355-4648, or by fill out this contact form. There is no cost or obligation for you.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertising. Past results do not guarantee similar results.
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