NEW YORK, NY/ACCESSWIRE/May 23, 2022/ Pomerantz LLP is investigating claims on behalf of Accolade, Inc. investors. (“Accolade” or the “Company”) ACCD. Such investors are encouraged to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation focuses on whether Accolade and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
On April 28, 2022, Accolade issued a press release reporting the Company’s results for the fiscal fourth quarter and fiscal year ended February 28, 2022. Among other items, Accolade issued fourth quarter GAAP earnings per share of -$0.51, compared to -$0.09 for the same period last year, as the Company’s operating expenses more than doubled year over year. The company also released fiscal 2023 revenue guidance of just $350-365 million, well below the consensus estimate of $382.87 million. Additionally, the company’s chief executive said a major client recently informed the company that it would be ending its service relationship with Accolade after the end of 2022.
On this news, Accolade stock price fell $5.50 per share, or 49.73%, to close at $5.56 per share on April 29, 2022.
Pomerantz, with offices in New York, Chicago, Los Angeles and Paris, is recognized as one of the leading law firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Company continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. To see www.pomerantzlaw.com
THE SOURCE: Pomerantz LLP
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