Shamis & Gentile, P.A. Announces Investigation of Breaches of Fiduciary Duties by the Directors and Officers of agilon health, inc.

Core Viewpoint - The law firm Shamis & Gentile, P.A. is investigating potential breaches of fiduciary duties by directors and officers of agilon health, inc. following a significant drop in the company's stock price due to lowered profit forecasts and increased medical costs [1][2]. Group 1: Investigation Details - The investigation is prompted by agilon health's unexpected announcement on January 5, 2024, which included a reduction in its 2023 profit forecasts, specifically lowering its Medical Margin and Adjusted EBITDA guidance due to higher than anticipated medical costs [2]. - Following the announcement, agilon's stock price fell by $3.45, or 28.6%, closing at $8.63 on the same day [2]. - A securities class action lawsuit has been filed against agilon and certain executives, alleging that they misled investors regarding medical costs and provided overly optimistic financial guidance [3]. Group 2: Governance and Oversight - Shamis & Gentile, P.A. is assessing whether agilon's board of directors and senior executives failed to maintain adequate oversight and internal controls related to the alleged misconduct, which may have led to significant legal, financial, and reputational risks for the company [4]. - Long-term shareholders may have the opportunity to seek corporate governance reforms and the return of funds to the company, with no associated costs [5].