NEW YORK, NY / ACCESSWIRE / October 5, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Progyny, Inc. ("Progyny" or the "Company") (NASDAQ:PGNY). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Progyny and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 18, 2024, Progyny disclosed in a filing with the U.S. Securities and Exchange Commission that the Company "was recently notified by a significant client (the ‘Client') that the Client has elected to exercise a 90-day option to terminate its services agreement with the Company, effective as of January 1, 2025." Then, on September 19, 2024, JMP Securities downgraded Progyny to Market Perform from Outperform, stating that "the loss of [Progyny's] largest client causes us to appropriately contemplate the potential for lower retention rates going forward."
On this news, Progyny's stock price fell sharply during intraday trading on September 19, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP