On or around 05/27/2016 (Date of order of final judgment)
Filing Date: January 26, 2015
According to the law firm press release, the lawsuit alleges eHealth and certain of its officers and directors issued materially false and misleading statements about the Company’s true financial condition and prospects. On January 14, 2015, eHealth lowered its fiscal year 2014 revenue guidance to a range of $178 to $180 million from its prior revenue guidance in the range of $185 million to $194 million. The Company attributed the revision in part to lower than expected applications for its Individual & Family Plan. On this news, shares of eHealth fell $11.38 per share or almost 55% from its previous closing price to close at $9.42 per share on January 14, 2015, damaging investors.
On March 14, 2016, the Court issued an Order granting Defendant's Motion to Dismiss. Plaintiffs were given leave to file an amended complaint. Plaintiffs declined to file an amended complaint, thus Judgment was entered on May 27.
Company & Securities Information
Defendant: eHealth, Inc.
Industry: Insurance (Accident & Health)
Headquarters: United States
Ticker Symbol: EHTH
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.