San Diego, CA -- (SBWire) -- 09/03/2021 --Certain directors of American Well Corporation are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of American Well Corporation (NYSE: AMWL) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain American Well officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Boston, MA based American Well Corporation operates as a telehealth company that enables digital delivery of care for healthcare.
On or about September 17, 2020 American Well Corporation (NYSE: AMWL) sold about 41.2 million shares of stock in its initial public stock offering (the "IPO") at $18.00 a share, raising nearly $742 million in new capital. On June 2, 2021, the stock closed at $13.03.
On March 24, 2011, American Well Corporation announced its financial resulrs for the fourth quarter and full year 2020. American Well Corporation reported that its annual Total Revenue rose from $148.85 million in 2019 to $245.26 million in 2020, and that Net Loss increased from $88.36 million in 2019 to $228.62 million in 2020.
Since the IPO shares of American Well Corporation (NYSE: AMWL) declined to as low as $9.69 per share on May 13, 2021. American Well Corporation also issued its initial outlook for 2021.
Those who purchased shares of American Well Corporation (NYSE: AMWL) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
American Well Corporation (NYSE:AMWL) Investor Notice: Investigation over Potential Wrongdoing
An investigation on behalf of investors in American Well Corporation (NYSE:AMWL) shares over potential wrongdoing at American Well Corporation was announced.