On December 7, 2022, Jehoshaphat Research published a short report addressing Progyny, entitled “A Love Child of Accounting Games & Credit Risk” (the “Jehoshaphat Report”). The Jehoshaphat Report alleges that Progyny “is deceiving the investor community via its financial reporting practices” and that Progyny “is actually unprofitable but masks this problem with accounting games.” Among other items, the report alleges that Progyny “apparently decided to recently stop accruing allowances for customer cancellations, which . . . may have added up to another ~400bps to both revenues and gross profit margins” and that “credit losses” reported by Progyny “are more like reversals of inflated revenues,” citing the Company’s “corporate customer base of high quality.” On this news, Progyny’s stock price fell sharply during intraday trading on December 7, 2022.
NASDAQ: PGNY
Progyny, Inc.
Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Progyny, Inc. (NASDAQ: PGNY) resulting from allegations that Progyny may have issued materially misleading business information to the investing public.
If you purchased Progyny securities and would like to join the prospective action, please click “Join This Class Action.”
If you purchased Progyny securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
公司名称:
Progyny, Inc.
股票代号:
PGNY
集体诉讼期:
N/A
法院:
N/A
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