GlobeNewswire Inc | May 20, 2021 06:09PM EDT

May 20, 2021

NEW YORK, May 20, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of American Well Corporation (American Well or the Company) (NASDAQ:AMWL). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether American Well and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On May 12, 2021, post-market, Amwell issued a press release announcing its financial results for the first quarter of 2021. Among other results, Amwell reported revenue of $57.5 million, missing consensus estimates by $1.16 million.

On this news, Amwells stock price fell $2.77 per share, or 21.61%, to close at $10.05 on May 13, 2021.

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.

CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980