NEW YORK, NY - 
(NewMediaWire) - May 9, 2024 - Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) reminds investors that a complaint has been filed on behalf of purchasers or acquirers of agilon health, Inc. (“agilon” or the “Company”) (NYSE: AGL) common stock between April 15, 2021 and February 27, 2024. Click Here to Join Investigation.
Deadline Reminder: If you are a member of the proposed Class, you may move the court no later than May 20, 2024 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.
According to the complaint, investors began to learn the truth about the cost pressures impacting the Company’s medical margin and profitability on November 2, 2023, when the Company announced its third quarter 2023 financial results after the market closed. Critically, agilon reported a net loss of $31 million for the third quarter of 2023 and slashed its fiscal year 2023 medical margin outlook by approximately $50 million to a range between $455 million and $470 million.
Following this news, the price of agilon stock fell $2.23, or 13.2%, to close at $14.66 per share on November 3, 2023.
Then, on January 5, 2024, according to the complaint, investors more fully learned the truth when agilon further slashed its 2023 medical margin guidance by more than $100 million, to a range between $340 million and $360 million due to “higher-than-expected medical costs.” Additionally, agilon disclosed that its Chief Financial Officer, Timothy Bensley, would retire in 2024.
Following this news, agilon's stock price fell $3.45 per share, nearly 29%, to close at $8.63 per share on January 5, 2024.
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