GlobeNewswire Inc | Jan 31, 2022 01:20PM EST

January 31, 2022

SAN FRANCISCO, Jan. 31, 2022 (GLOBE NEWSWIRE) -- Hagens Berman urges Oak Street Health, Inc. (NYSE: OSH) investors with significant losses to submit your losses now. A securities fraud class action has been filed and certain investors may have valuable claims.

Class Period: Aug. 6, 2020 Nov. 8, 2021Lead Plaintiff Deadline: Mar. 11, 2022Visit:www.hbsslaw.com/investor-fraud/OSHContact An Attorney Now:OSH@hbsslaw.com 844-916-0895

Oak Street Health, Inc. (OSH) Securities Class Action:

The lawsuit focuses on defendants' repeated statements about Oak Streets purported innovative community outreach approach to engage Medicare eligible patients and repeated claims that its strong at- risk patient and revenue growth are largely the product of its internal sales and marketing efforts.

According to the complaint, defendants misled investors by failing to disclose that: (1) Oak Street maintained relationships with third-party marketing agents likely to provoke law enforcement scrutiny; (2) Oak Street provided free transportation to federal health care beneficiaries in a manner that would provoke law enforcement scrutiny; and, (3) these activities might violate the False Claims Act.

Investors began to learn the truth on Nov. 8, 2021, when Oak Street announced its Q3 2021 financial results, which included a slight miss from the consensus loss estimate. However, the company also disclosed it received a civil investigative demand (CID) on Nov. 1, 2021, indicating the U.S. Department of Justice is investigating the companys relationships with third-party marketing agents and whether the companys provision of free transportation to federal health care beneficiaries violated the federal False Claims Act.

This news sent the price of Oak Street shares sharply lower on Nov. 9, 2021.

Were focused on investors losses and proving Oak Street and senior management misled investors about the true sources of the companys patient and revenue growth, said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Oak Street and have significant losses, or have knowledge that may assist the firms investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Oak Street should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email OSH@hbsslaw.com.

About Hagens BermanHagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact: Reed Kathrein, 844-916-0895