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INVESTIGATION NOTICE: The Schall Law Firm Announces it is Investigating Claims Against Progyny, Inc. and Encourages Investors with Losses to Contact the Firm

PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.
December 15, 2022 GMT

LOS ANGELES--(BUSINESS WIRE)--Dec 15, 2022--

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Progyny, Inc. (“Progyny” or “the Company”) (NASDAQ: PGNY ) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Progyny is the subject of a report issued by Jehoshaphat Research on December 7, 2022. The report, titled: “A Love Child of Accounting Games & Credit Risk,” claims that the Company “is deceiving the investor community via its financial reporting practices.” The report alleges that the Company “is actually unprofitable but masks this problem with accounting games.” The report says that the Company “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,” adding that “credit losses” reported by the Company “are more like reversals of inflated revenues.” Based on this report, shares of Progyny fell over the next several trading sessions.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at bschall@schallfirm.com.

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

View source version on businesswire.com:https://www.businesswire.com/news/home/20221212005593/en/

CONTACT: The Schall Law Firm

Brian Schall, Esq.

310-301-3335

info@schallfirm.com

www.schallfirm.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL

SOURCE: The Schall Law Firm

Copyright Business Wire 2022.

PUB: 12/15/2022 10:00 AM/DISC: 12/15/2022 10:01 AM

http://www.businesswire.com/news/home/20221212005593/en