Evolvent (EVH) Alert: Johnson Fistel Announces Shareholder Class Action Survives Motion to Dismiss; Should Management be Held Accountable for Investors Losses?

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Mar 28, 2021, 07:40 ET

SAN DIEGO, March 28, 2021 /PRNewswire/ -- Johnson Fistel, LLP is investigating potential claims on behalf of Evolent Health, Inc. (NYSE: EVH) ("Evolent" or the "Company") against certain of its officers and directors. Specifically, a class-action lawsuit pending in the Eastern District of Virginia against Evolvent and certain of its current and former officers recently survived, in part, certain defendants' attempts to have the case dismissed.

According to the lawsuit filed, the case arises from Defendants' false and/or misleading statements and/or failure to disclose that: Evolent acquired Passport despite previously stating that it had no intention of buying any health plans for the foreseeable future and that acquiring health plans was not part of its strategic focus. In addition, in acquiring Passport, and contrary to the Company's positive statements during the Class Period, Evolent admitted that Passport was performing poorly and was not being run or managed properly, despite paying massive management fees to Evolent for what was previously understood by investors to be an aligned relationship.

If you are a current, long-term shareholder of Evolvent holding shares before March 3, 2017, you may have standing to hold Evolent harmless from the alleged harm caused by the Company's officers and directors by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.

If you are interested in learning more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.

Additionally, if you have owned Evolvent's shares since before March 3, 2017, you can [Click here to join this action]. There is no cost or obligation to you.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

If you have owned Evolvent's shares since before March 3, 2017, you can [Click here to join this action]. There is no cost or obligation to you.

SOURCE Johnson Fistel, LLP