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LFST INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against LifeStance Health Group, Inc. and Announces Opportunity for Investors with Substantial Losses to Lead Case

LFST INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against LifeStance Health Group, Inc. and Announces Opportunity for Investors with Substantial Losses to Lead Case
PR Newswire
SAN DIEGO, Aug. 12, 2022

SAN DIEGO,…

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LFST INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against LifeStance Health Group, Inc. and Announces Opportunity for Investors with Substantial Losses to Lead Case

PR Newswire

SAN DIEGO, Aug. 12, 2022 /PRNewswire/ -- The law firm of Robbins Geller Rudman & Dowd LLP announces that it has filed a class action lawsuit seeking to represent purchasers of LifeStance Health Group, Inc. (NASDAQ: LFST) common stock issued in connection with LifeStance Health's June 10, 2021 initial public stock offering (the "IPO"). Captioned Nayani v. LifeStance Health Group, Inc., No. 22-cv-06833 (S.D.N.Y.) – the LifeStance Health class action lawsuit charges LifeStance Health, certain of its top executives and directors, as well as the IPO's underwriters with violations of the Securities Act of 1933. 

If you suffered substantial losses and wish to serve as lead plaintiff, please provide your information here:

https://www.rgrdlaw.com/cases-lifestance-health-group-inc-class-action-lawsuit-lfst.html 

You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com. Lead plaintiff motions for the LifeStance Health class action lawsuit must be filed with the court no later than October 11, 2022.

CASE ALLEGATIONS: LifeStance Health is one of the nation's largest providers of virtual and in-person outpatient mental health care. LifeStance Health benefitted from the state and local lockdown orders necessitated by the COVID-19 pandemic starting in the spring of 2020. But by December 2020, several COVID-19 vaccines were being approved and administered, meaning LifeStance Health's access to clients seeking virtual mental health services would significantly decline while demand for in-person services would increase. LifeStance Health conducted its IPO on June 10, 2021, selling 46 million shares at $18.00 per share, raising $828 million in gross proceeds.

However, as the LifeStance Health class action lawsuit alleges, the IPO's registration statement failed to disclose the following material facts: (i) that the number of virtual visits clients were undertaking utilizing LifeStance Health was decreasing as the COVID-19 lockdowns were being lifted, thereby flatlining LifeStance Health's out-patient/virtual revenue growth; (ii) that the percentage of in-person visits clients were undertaking utilizing LifeStance Health was increasing as the COVID-19 lockdowns were being lifted, thereby causing LifeStance Health's operating expenses to increase substantially; (iii) that LifeStance Health had lost a large number of physicians due to burn-out and, as a result, its physician retention rate had fallen significantly below the 87% highlighted in the IPO's registration statement and LifeStance Health had been expending additional costs to onboard new physicians who were less productive than the outgoing physicians they were replacing; and (iv) as a result, LifeStance Health's business metrics and financial prospects were not as strong as the IPO's registration statement represented.

At the time of the LifeStance Health class action lawsuit's filing, LifeStance Health common stock traded in a range of $4.77-$7.70, a reduction of upwards of 73% from the price the shares were sold at in the IPO.

The plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud.  You can view a copy of the complaint by clicking here.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased LifeStance Health common stock issued in connection with the IPO to seek appointment as lead plaintiff in the LifeStance Health class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the LifeStance Health class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the LifeStance Health class action lawsuit.  An investor's ability to share in any potential future recovery of the LifeStance Health class action lawsuit is not dependent upon serving as lead plaintiff. 

ABOUT ROBBINS GELLER: Robbins Geller is one of the world's leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the 2021 ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors last year alone – more than triple the amount recovered by any other plaintiffs' firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Attorney advertising. 
Past results do not guarantee future outcomes. 
Services may be performed by attorneys in any of our offices. 

Contact:



Robbins Geller Rudman & Dowd LLP 


655 W. Broadway, Suite 1900, San Diego, CA  92101 


J.C. Sanchez, 800-449-4900 


jsanchez@rgrdlaw.com 

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SOURCE Robbins Geller Rudman & Dowd LLP

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Economics

Why WWE could be a good stock to buy/hold in October

World Wrestling Entertainment Inc. (NYSE:WWE) remains in defensive mode as the stock market crumbles. A year-to-date return of 37.40% makes the stock one…

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World Wrestling Entertainment Inc. (NYSE:WWE) remains in defensive mode as the stock market crumbles. A year-to-date return of 37.40% makes the stock one to hold for value preservation. This article finds WWE a good stock to trade when keenness and proper risk management are exercised.

WWE, as it is popularly known, is an integrated media and entertainment entity. It’s known for wrestling promotion, but related fields of film and American football widen its scope. 

Just like other entertainment companies, WWE was grounded by the Covid-19 disruption. As recovery began, the stock has never looked back. It has acted as a true momentum stock while maintaining an uptrend since the beginning of the year. There are clear fundamentals too.

In its second quarter, the company’s net revenue rose 24% to $328.2 million or £309.6 million. The revenue was above $322.4 million or £304.15 estimates. The earnings per share increased from $0.42 to $0.59. The company projects “strong revenue growth” in the third quarter. The raised guidance reflects rising content monetization, local media rights fees, and international ticket sales increases. 

WWE touches the bottom of the ascending channel

Source – TradingView

On the daily chart, momentum is weak on WWE as it corrected to $67. However, we can see that WWE is still maintaining the upside channel. 

Should you buy WWE

WWE has maintained momentum and recovers each time it hits the bottom of the ascending channel. The stock is a buy at the current level, preferably after recovering above the 50-day MA. Short-term traders can exit at the top of the ascending channel.

The post Why WWE could be a good stock to buy/hold in October appeared first on Invezz.

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Economics

Cities With Good Neighbors Have Lower-Than-Average Home Values

New York’s Rochester was identified took the top spot as the most neighborly city in the country.

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New York's Rochester was identified took the top spot as the most neighborly city in the country.

Many want the kind of neighbor who will stop by with fresh-baked cookies, offer gardening tips and take out the mail while they're away — a thing that, if you live in an urban mecca like New York, is just as likely as finding a spacious apartment that's available and within budget.

In honor of National Neighbor Day on Sept. 28, self-storage company Neighbor.com identified Rochester in the Finger Lakes region of New York state as the most neighborly city in the country.

The study analyzed both big and small cities through factors such as resident happiness levels and number of people volunteering their time to the community.

"It's not a surprise that Rochester is the most neighborly city this year, it's made this list each year," Joseph Woodbury, CEO and co-founder of Neighbor.com, said of the findings. "Oftentimes, we connect hospitality with small cities, but you’ll find that people in large cities are just as likely to go out of their way to help one another."

Correlation Between Neighborliness and Home Values

While Federal Reserve economic data pegs the median price of homes sold in 2022 at $428,000, the median list price identified by Realtor.com for Rochester is $150,000. 

Madison, Wis., and Provo, Utah followed Rochester as the most "neighborly" cities in the U.S. and have respective median list prices of $360,000 and $495,000.

Along with Provo, California's Oxnard breaks the list's mold with its high real estate prices — amid proximity to the beach (the city is about 60 miles from Los Angeles) and quaint Victoria architecture, the city has a median list price of $794,500.

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Other cities on the list generally fall below the national average for a standard single-family home. Grand Rapids in Michigan has a median list price of $307,500 while that number is only $175,000 in Milwaukee, Wis.

Harrisburg, Pa., and Des Moines, Iowa are two other neighborly cities with respective list prices of $215,000 and $227,500. 

Good neighbors have long been a hallmark of smaller cities with a quieter way of life — metropolises like New York and Los Angeles have very high property values, they are not exactly known for being "friendly" or "welcoming."

With a median list price of $495,000, North Carolina's Raleigh is the largest city to make the list.

Those who think New Yorkers are unfriendly need only to look outside the five boroughs — with a median list price of $334,000, Poughkeepsie also made the list for its neighborliness.

Search For the Next Big Real Estate City

As sleepy towns that paint a TV image of "neighborliness" tend to have lower demand, they may not offer the kind of real estate growth potential that many investors are specifically looking for. 

But exceptions do exist — many small cities are currently in the midst of a real estate boon and, subsequently, an explosion in real estate values.

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According to the study's authors, many homebuyers looking to move have specifically started looking for "friendlier" cities after the pandemic and are driving up demand for formerly quiet places.

Realtor.com identified Utah's Salt Lake City, Idaho's Boise and Washington state's Spokane as 2022's fastest-growing real estate markets.

"Being neighborly goes beyond a friendly wave while driving down the street or offering to water plants while on vacation," Woodbury said. "To be neighborly is opening yourself up to building relationships and ultimately a community that is rooted in compassion, trust, and care."

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Economics

Here’s Why Your Boss May Reject Your Business Travel Request

People are taking vacations again, but a once dominant travel sector is struggling to recover.

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People are taking vacations again, but a once dominant travel sector is struggling to recover.

Now that vaccines are readily available and President Joe Biden has declared that the pandemic is officially over, people are flying again. But they’re really not happy about it.

The research firm J.D. Power found that last year, when the airline industry first started to cautiously rebound, consumer satisfaction with airports reached an all-time high. But this was very likely both because of a relatively smaller sample size and that so many people were happy to fly again that they were willing to overlook a lot of what has become headache-inducing about modern airfare travel.

J.D. Power  (JD) - Get JD.com Inc. Report has found that this year, global passenger levels are nearly back up to 91% of pre-pandemic levels. 

Customer satisfaction has dropped sharply, 25 points on a 1,000-point scale, to 777, as more people have returned to airports, for reasons ranging from an increase in flight cancellations and delays to inflation-driven increases in the cost of airport food.

But while airlines are aware that customers aren’t happy, and that the Biden Administration might try to right the ship with proposals that airlines likely won’t care for, at least people are flying again.

But an additional survey by J.D. Power has revealed that while people are flying again, traveling for business (be it for in-person meetings or industry conferences), has been lagging behind and recovering at nearly the rate of traveling for pleasure. 

Is Traveling for Business on the Way Out?

J.D. Power’s research has found that many travelers doubt that travel levels will increase dramatically from where they are now, and that “a strong majority of executives believe their companies will spend less in the next six months compared to the same period in 2019, for instance, due to things like fewer trips overall or fewer employees sent when there is a trip scheduled,” according to their data.

Overall, business travel has returned to “about 81% of 2019 levels,” notes Managing Director Michael Taylor. “83% was our prediction for this quarter, we’ll see how well we did in a few weeks and add a predication for Q4.”

J.D. Power

Fears of recession and the rising costs of air tickets from inflation play a factor in the decline of business travel. But overall, the main reason is that many of us have gotten so used to working at home that two-thirds of employees would rather find a new job than go back to the pre-pandemic status quo. If employees feel they can get work done from home and don’t feel like braving traffic to return to the office, why would they feel they need to get on a plane?

So have services like Zoom (ZM) - Get Zoom Video Communications Inc. Report and Slack made the business trip redundant? Taylor has his doubts.

“But will people be meeting exclusively in the 'Metaverse' rather than in person? I do not think that will happen,” he says. “There is too much information to be gathered in face-to-face meetings, spoken and unspoken, to be replaced completely by virtual ‘reality.’”

Getty Images

So is This It for Business Travel?

Back in the heady pre-pandemic days three years ago, airlines could rely on the extra income from people whose jobs entailed a great deal of travel, and who had come to the realization that if they were going to spend a chunk of their lives on the road, they could splurge to make it a more comfortable experience. 

But if airlines want this sector to return, Taylor thinks it’s their duty to make it a more appealing option, because frequent delays and other headaches are enough to make anyone stick to Zoom.

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Airlines, Taylor says, must “create more of a “living room” experience for travelers, one that “makes travelers feel valued as patrons of the airlines, and makes people feel like individuals rather than cattle.”

Because while it’s hard to argue with the convenience, Taylor insists there is still something to be said for the occasional in-person meeting. 

“Millenia of evolution in mankind has created an awareness that can’t be described with words on a page or pixels on a screen,” he says. “People will still find advantages in meeting in-person rather than online.”

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