SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Definitive Healthcare Corp. - DH
NEW YORK, Aug. 10, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Definitive Healthcare Corp. ("Definitive Healthcare" or the "Company") (NASDAQ: DH). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Definitive Healthcare and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 1, 2023, Definitive Healthcare issued a press release announcing that "[o]n July 31, 2023, the Audit Committee of the Board of Directors of the Company (the 'Audit Committee') . . . concluded that the Company's previously issued audited consolidated financial statements as of December 31, 2022 and 2021 and for the years ended December 31, 2022, 2021 and 2020, included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022 (the '2022 Annual Report'), and the Company's unaudited condensed consolidated financial statements included in the Quarterly Reports on Form 10-Q for the quarterly periods within those years (the 'Historical Quarterly Reports'), as well as the unaudited condensed consolidated financial statements included in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (the 'Q1 2023 Quarterly Report' and, together with the 2022 Annual Report and the Historical Quarterly Reports, the 'Reports' and all financial statements included in the Reports, collectively the 'Affected Financials'), should no longer be relied upon. Similarly, related press releases, shareholder communications, investor presentations or other communications describing relevant portions of the Affected Financials should no longer be relied upon." Specifically, Definitive Healthcare stated that it had "determined during the second quarter of 2023 that sales in certain states were subject to sales tax and that the Company had not assessed such sales tax on sales of its services to customers" and that "[t]he Company expects to record an aggregate increase to previously reported general and administrative expense of between $6.8 million to $10.2 million over the periods impacted[.]" On this news, Definitive Healthcare's stock price fell sharply during intraday trading on August 1, 2023.
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.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
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