San Diego, CA -- (SBWire) -- 06/10/2021 --An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Ontrak, Inc..
Investors who are current long term investors in Ontrak, Inc. (NASDAQ: OTRK) shares, 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 for investors in Ontrak, Inc. (NASDAQ: OTRK stocks follows a lawsuit filed against Ontrak, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: OTRK stocks, concerns whether certain Ontrak, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the Defendants failed to disclose to investors that Ontrak's largest customer evaluated the Company on a provider basis, valuing Ontrak's performance based on achieving the lowest cost per medical visit rather than clinical outcomes or medical cost savings, that, as a result, Ontrak's largest customer did not find the Company's program to be effective and was reasonably likely to terminate its contract with Ontrak, that, because this customer accounted for a significant portion of the Company's revenue, the loss of the customer would have an outsized impact on Ontrak's financial results, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Ontrak, Inc. (NASDAQ: OTRK) 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.
NASDAQ:OTRK Long Term Investor Notice: Investigation of Potential Wrongdoing at Ontrak, Inc.
An investigation on behalf of current long term investors in Ontrak, Inc. (NASDAQ:OTRK) shares over possible breaches of fiduciary duty by certain officers and directors was announced.