{"id":454638,"date":"2021-03-10T08:03:18","date_gmt":"2021-03-10T13:03:18","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=454638"},"modified":"2021-03-10T08:03:18","modified_gmt":"2021-03-10T13:03:18","slug":"portnoy-law-lawsuit-filed-on-behalf-of-ontrak-inc-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/portnoy-law-lawsuit-filed-on-behalf-of-ontrak-inc-investors\/","title":{"rendered":"Portnoy Law: Lawsuit Filed On Behalf of Ontrak, Inc. Investors"},"content":{"rendered":"
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\n Click <\/em>
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\n here<\/u>
\n <\/em>
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\n to join the case<\/em>
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LOS ANGELES, March 10, 2021 (GLOBE NEWSWIRE) — The Portnoy Law Firm<\/u><\/a> advises investors that a class action lawsuit has been filed on behalf of Ontrak, Inc. (“Ontrak” or “the Company”) (NASDAQ: OTRK) investors that acquired securities between November 5, 2020 and February 26, 2021.<\/p>\n

Investors are encouraged to contact attorney Lesley F. Portnoy<\/u><\/a>,<\/u> to determine eligibility to participate in this action, by phone 310-692-8883 or email<\/u><\/a>, or click here<\/u><\/a> to join the case.<\/p>\n

It is alleged in this complaint that Ontrak failed to disclose that: (1) their largest customer evaluated Ontrak on a provider basis, valuing Ontrak\u2019s performance based on achieving the lowest cost per medical visit instead of medical cost savings or clinical outcomes ; (2) Ontrak\u2019s largest customer did not find their program to be effective and was reasonably likely to terminate its contract with Ontrak as a result; and (3) because this customer accounted for a significant portion of Ontrak\u2019s revenue, losing this customer would have an outsized impact on Ontrak’s financial results.<\/p>\n

Ontrak announced its preliminary financial results for fourth quarter and full year 2020 on March 1, 2021 and shared that, effective June 26, 2021, its largest customer had terminated its contract with Ontrak. Apparently, “the customer evaluated [Ontrak’s] 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, which were meaningful and significant.” Further, “the coaching model which Ontrak has pioneered for over a decade was seen by the customer as less relevant to their performance metrics.” Ontrak’s share price fell $27.32, or more than 46% to close at $31.62 per share on March 2, 2021, on this news.<\/p>\n

Please visit our website<\/u><\/a> to review more information and submit your transaction information.<\/p>\n

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm\u2019s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.<\/p>\n

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com<\/u><\/a>
310-692-8883
www.portnoylaw.com<\/p>\n

Attorney Advertising<\/p>\n

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Click here to join the case LOS ANGELES, March 10, 2021 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Ontrak, Inc. (“Ontrak” or “the Company”) (NASDAQ: OTRK) investors that acquired securities between November 5, 2020 and February 26, 2021. Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case. It is alleged in this complaint that Ontrak failed to disclose that: (1) their largest customer evaluated Ontrak on a provider basis, valuing Ontrak\u2019s performance based on achieving the lowest cost per medical visit instead of medical cost savings or … <\/p>\n

Continue reading “Portnoy Law: Lawsuit Filed On Behalf of Ontrak, Inc. Investors”<\/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-454638","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPortnoy Law: Lawsuit Filed On Behalf of Ontrak, Inc. Investors - 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\/portnoy-law-lawsuit-filed-on-behalf-of-ontrak-inc-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Portnoy Law: Lawsuit Filed On Behalf of Ontrak, Inc. 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