GlobeNewswire Inc | Nov 9, 2021 03:09PM EST

November 09, 2021

NEW YORK, Nov. 09, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of LifeStance Health Group, Inc. (LifeStance or the Company) (NASDAQ: LFST). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether LifeStance 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 or around June 10, 2021, LifeStance sold approximately 40 million shares of stock in its initial public stock offering (the IPO) at $18 a share, raising nearly $720 million in new capital. On August 11, 2021, LifeStance released its financial results for the second quarter of 2021, reporting a net loss of $70 million. On this news, LifeStances stock price fell $10.16 per share, or 46.46%, to close at $11.71 per share on August 12, 2021.

Then, on November 8, 2021, LifeStance released its financial results for the third quarter of 2021, reporting a net loss of $120.5 million compared to a net loss of only $3.3 million for the same period in the prior year. On this news, LifeStances stock price fell sharply during intraday trading on November 9, 2021.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, 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, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz 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.pomlaw.com

CONTACT:

Robert S. Willoughby

Pomerantz LLP

rswilloughby@pomlaw.com

888-476-6529 ext. 7980