{"id":451498,"date":"2021-03-04T18:24:14","date_gmt":"2021-03-04T23:24:14","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=451498"},"modified":"2021-03-04T18:24:14","modified_gmt":"2021-03-04T23:24:14","slug":"otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\/","title":{"rendered":"OTRK CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit has been Filed Against Ontrak, Inc."},"content":{"rendered":"<div class=\"mw_release\">\n<p>NEW YORK, March  04, 2021  (GLOBE NEWSWIRE) &#8212; Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Ontrak, Inc. (\u201cOntrak\u201d or the \u201cCompany\u201d) (NASDAQ: OTRK) from November 5, 2020, through February 26, 2021 (the \u201cClass Period\u201d). The lawsuit filed in the United States District Court for the Central District of California alleges violations of the Securities Exchange Act of 1934.<\/p>\n<p>If you <strong>purchased Ontrak securities, and\/or would like to discuss your legal rights and options<\/strong> please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=5Xqro6j-iDT7MY6-yBhgC2fSKt1kCr-HcZ2FyVjpnFM_jY4_-isNpcoi5zonc1IyGrIpndM6bx23cRN6AE58N_z5kKIapmrEiT_5H7GYX-90D9Gi0SFcbcfxW0W0bkdzHIg3JIudqhDb5ryYKDMkfBfE4YWB2cA-_tEJ3igFmc95tQNrAL_7B4eduvrNtQ74Cl1N3iHJ-yqukcj3Z4SoZQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Ontrak Shareholder Lawsuit<\/a> or contact <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=RZ0TMs69RerY9yjxcISFR1hQj0VUFIW9gsmrs-KxbWLPDVVMsR-w4N3SI-DhsN2aEZAg15ifHiR6TU90UMwaozggTZ5MQD7vYFoJwnlhk-g=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Matthew E. Guarnero<\/a> toll free at <strong>(877) 779-1414<\/strong> or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=PrWBYjOrEzpYrlspVdB_uNEPCbKf3LqLoGGJEAWE_o9SovxA6NMit4jdqqEUT03bDfJetBlZl3JxMy-FamAbONj4ePfjIHjZMkr1p5UYWIY=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">MGuarnero@bernlieb.com<\/a>.<\/p>\n<p>The complaint alleges that throughout the Class Period, defendants made materially false and\/or misleading statements, as well as failed to disclose to investors: (1) that Ontrak\u2019s largest customer evaluated the Company on a provider basis, valuing Ontrak\u2019s performance based on achieving the lowest cost per medical visit rather than clinical outcomes or medical cost savings; (2) that, as a result, Ontrak\u2019s largest customer did not find the Company\u2019s program to be effective and was reasonably likely to terminate its contract with Ontrak; (3) that, because this customer accounted for a significant portion of the Company\u2019s revenue, the loss of the customer would have an outsized impact on Ontrak\u2019s financial results; and (4) that, as a result of the foregoing, Defendants positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n<p>On March 1, 2021, Ontrak issued a press release announced preliminary financial results for fourth quarter and full year 2020. Therein, the Company stated that its largest customer had terminated its contract with Ontrak, effective, June 26, 2021<\/p>\n<p>The Company stated that this customer evaluated Ontrak on a provider basis and [a]s such, the customer evaluated [Ontrak\u2019s] performance based on [its] ability to achieve the lowest possible cost per medical visit, and not on [its] clinical outcomes data or medical cost savings. The Company also stated that the coaching model which Ontrak has pioneered for over a decade was seen by the customer to be less relevant to their performance metrics. On this news, the Company\u2019s share price fell $27.32, or more than 46%, to close at $31.62 per share on March 1, 2021, thereby injuring investors.<\/p>\n<p>If you wish to serve as lead plaintiff, you must move the Court no later than May 3, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn\u2019t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.<\/p>\n<p>If you <strong>purchased Ontrak securities, and\/or would like to discuss your legal rights and options<\/strong> please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=qe-7vOh_Be4lOzi82HhHO7BOK6ezVBxsCcrEL8ddreKeIEGybfeo8DKksosEhzqH89ZMsRr0-imnXP8xc1cdmUgWii4oSwsEgldX-6O6nF7ga-Bv818GtiXTS-j1jxr9uRmc6z-TdNYT9Ihp5-msZmsTDZu7d1Eh4UoUV9wzYOr0j1P3Ivt9UrkXIFsWyYPHRfh-M_TGWvhyMUmJbUybjv3JSdhYOUYMlH9jMynwgSU9gPGXx82GIXDkg4v323DkA4PQlk0oBvQ0Jw30-LTsRTmf7RzhBHGiDx4F103bHVE=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.bernlieb.com\/cases\/ontrakinc-otrk-shareholder-class-action-lawsuit-stock-fraud-373\/apply\/<\/a> or contact <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=RZ0TMs69RerY9yjxcISFRxRRmlZ5bLsfZMUd-6RRTpLvqXCx3wgBATYdDFrHMcgstaVgdzbrVNLWGNGfYrFmrb7-o4_PSu9nqAO_fF3kaK4=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Matthew E. Guarnero<\/a> toll free at <strong>(877) 779-1414<\/strong> or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=PrWBYjOrEzpYrlspVdB_uNEPCbKf3LqLoGGJEAWE_o97fPlPycNF216DZnERBm7__rZuiY5Gs9-A4ZbL-tEg4fGip0TDyuPXPyCEsNf0n1c=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">MGuarnero@bernlieb.com<\/a>.<\/p>\n<p>Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to\u00a0<em>The National Law Journal\u2019s<\/em>\u00a0\u201cPlaintiffs\u2019 Hot List\u201d thirteen times and listed in\u00a0<em>The Legal 500\u00a0<\/em>for ten consecutive years.<\/p>\n<p>ATTORNEY ADVERTISING. \u00a9 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin.\u00a0 Prior results do not guarantee or predict a similar outcome with respect to any future matter.<\/p>\n<p>Contact Information<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=RZ0TMs69RerY9yjxcISFRxw5l5_nbB-ZHc3176wuFkbz9yYAR7A44uhTh60HXApS2-Iixun2K1aVo_CRW4zOvOT_vU83n-IxoDhByOlsiFw=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Matthew E. Guarnero<\/a><br \/>Bernstein Liebhard LLP<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=qe-7vOh_Be4lOzi82HhHO7BOK6ezVBxsCcrEL8ddreLg3-q89GU_4keUDLzZ5eiqaEVmR_FbIT4rA5aSSO47JIErXydL7Ot30TS2SiZRQe8=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.bernlieb.com<\/a><br \/>(877) 779-1414<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=PrWBYjOrEzpYrlspVdB_uNEPCbKf3LqLoGGJEAWE_o92wg6ORNHpWWSG4S5CnSBQx3W4hAAB-Ll8y5lC8SOSxx9ABWHp4GpeqpAcVejjqb4=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">MGuarnero@bernlieb.com<\/a><\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NDc1OCM0MDQ5MzE3IzIwMjkzNDk=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/2eddaacf-ef45-4794-8b48-c9206f3ee9e7\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, March 04, 2021 (GLOBE NEWSWIRE) &#8212; Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Ontrak, Inc. (\u201cOntrak\u201d or the \u201cCompany\u201d) (NASDAQ: OTRK) from November 5, 2020, through February 26, 2021 (the \u201cClass Period\u201d). The lawsuit filed in the United States District Court for the Central District of California alleges violations of the Securities Exchange Act of 1934. If you purchased Ontrak securities, and\/or would like to discuss your legal rights and options please visit Ontrak Shareholder Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com. The complaint alleges that throughout the Class &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;OTRK CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit has been Filed Against Ontrak, Inc.&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-451498","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>OTRK CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit has been Filed Against Ontrak, Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OTRK CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit has been Filed Against Ontrak, Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, March 04, 2021 (GLOBE NEWSWIRE) &#8212; Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Ontrak, Inc. (\u201cOntrak\u201d or the \u201cCompany\u201d) (NASDAQ: OTRK) from November 5, 2020, through February 26, 2021 (the \u201cClass Period\u201d). The lawsuit filed in the United States District Court for the Central District of California alleges violations of the Securities Exchange Act of 1934. If you purchased Ontrak securities, and\/or would like to discuss your legal rights and options please visit Ontrak Shareholder Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com. The complaint alleges that throughout the Class &hellip; Continue reading &quot;OTRK CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit has been Filed Against Ontrak, Inc.&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-04T23:24:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NDc1OCM0MDQ5MzE3IzIwMjkzNDk=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"OTRK CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit has been Filed Against Ontrak, Inc.\",\"datePublished\":\"2021-03-04T23:24:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\\\/\"},\"wordCount\":657,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODE4NDc1OCM0MDQ5MzE3IzIwMjkzNDk=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\\\/\",\"name\":\"OTRK CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit has been Filed Against Ontrak, Inc. - 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(\u201cOntrak\u201d or the \u201cCompany\u201d) (NASDAQ: OTRK) from November 5, 2020, through February 26, 2021 (the \u201cClass Period\u201d). The lawsuit filed in the United States District Court for the Central District of California alleges violations of the Securities Exchange Act of 1934. If you purchased Ontrak securities, and\/or would like to discuss your legal rights and options please visit Ontrak Shareholder Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com. The complaint alleges that throughout the Class &hellip; Continue reading \"OTRK CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit has been Filed Against Ontrak, Inc.\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-04T23:24:14+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NDc1OCM0MDQ5MzE3IzIwMjkzNDk=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"OTRK CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit has been Filed Against Ontrak, Inc.","datePublished":"2021-03-04T23:24:14+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\/"},"wordCount":657,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NDc1OCM0MDQ5MzE3IzIwMjkzNDk=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/otrk-class-action-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-ontrak-inc\/","name":"OTRK CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit has been Filed Against Ontrak, Inc. - 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