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GoHealth Deadline Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In GoHealth, Inc. To Contact The Firm
New York, New York--(Newsfile Corp. - October 1, 2020) - Faruqi & Faruqi, LLP, a leading n...
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[{"type":"text","content":"GoHealth Deadline Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In GoHealth, Inc. To Contact The FirmNew York, New York--(Newsfile Corp. - October 1, 2020) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in GoHealth, Inc. (\"GoHealth\" or the \"Company\") (NASDAQ: GOCO) of the November 20, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. If you invested in GoHealth stock or options pursuant and/or traceable to the registration statement issued in connection with GoHealth's July 2020 initial public offering (the \"IPO\") and would like to discuss your legal rights, click here: www.faruqilaw.com/GOCO. There is no cost or obligation to you.You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected]:FARUQI & FARUQI, LLP 685 Third Avenue, 26th Floor New York, NY 10017 Attn: Richard Gonnello, Esq. [email protected] Telephone: (877) 247-4292 or (212) 983-9330A lawsuit has been filed in the U.S. District Court for the Northern District of Illinois on behalf of all those who purchased GoHealth common stock pursuant and/or traceable to the registration statement issued in connection with GoHealth's July 2020 IPO. The case, Hudson v. GoHealth, Inc. et al., No. 1:20-cv-05593 was filed on September 21, 2020 and has been assigned to Judge Sharon Johnson Coleman.As detailed below, the lawsuit focuses on whether the Registration Statement failed to disclose that, at the time of the IPO: (1) the Medicare insurance industry was undergoing a period of elevated churn, which had begun in the first half of 2020; (2) GoHealth suffered from a higher risk of customer churn as a result of its unique business model and limited carrier base; (3) GoHealth suffered from degradations in customer persistency and retention as a result of elevated industry churn, vulnerabilities that arose from the Company's concentrated carrier business model, and GoHealth's efforts to expand into new geographies, develop new carrier partnerships and worsening product mix; (4) GoHealth had entered into materially less favorable revenue sharing arrangements with its external sales agents; and (5) these adverse financial...