The Law Offices of Frank R. Cruz Announces Investigation of agilon health, inc. (AGL) on Behalf of Investors
The Law Offices of Frank R. Cruz announces an investigation of agilon health, inc. ("agilon" or the "Company") (NYSE: AGL) on behalf of investors concerning the Company's possible violations of federal securities laws.
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On November 2, 2023, agilon released its third quarter 2023 financial results, reporting lower-than-expected numbers due to increased utilization and medical costs. Additionally, the Company lowered its full-year guidance, stating that it had increased its incurred-but-not-reported ("IBNR") reserve to account for prior expenses.
On this news, agilon's stock price fell $2.23, or 13.2%, to close at $14.66 per share on November 3, 2023, thereby injuring investors.
Then, on January 5, 2024, agilon lowered its 2023 Medical Margin outlook by approximately $110 million and its Adjusted EBITDA outlook by $73 million, citing higher-than-expected medical costs. Further, the Company announced the retirement of its Chief Financial Officer.
On this news, agilon's stock price fell $3.45, or 28.6%, to close at $8.63 per share on January 5, 2024, thereby injuring investors further.
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If you purchased agilon securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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