Bright Health Group, Inc.

According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors that:

(i) Bright Health had overstated its post-IPO business and financial prospects;
(ii) the company was ill-equipped to handle the impact of COVID-19-relatedcosts;
(iii) the company was experiencing a decline in premium revenue because of a failure to capture risk adjustment on newly added lives;
(iv) all the foregoing was reasonably likely to have a material negative impact on Bright Health’s business and financial condition; and
(v) as a result, the offering documents and defendants’ public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.