Investigation Announcement for Progyny, Inc. by Legal Team
Investigation of Progyny, Inc. by Legal Experts
The Law Offices of Frank R. Cruz announces a critical investigation regarding Progyny, Inc. (NASDAQ: PGNY), focusing on concerns for investors who may have faced significant losses. This investigation stems from potential violations of federal securities laws that have recently come to light, prompting these legal experts to act on behalf of affected shareholders.
Impact of Client Loss on Progyny
In a recent disclosure, it was reported that Progyny lost a significant client, whose membership included approximately 670,000 individuals as of mid-2024. This client loss corresponds to a substantial share of the revenue, accounting for roughly 12% during the company's first half of the fiscal period that year.
Stock Price Reaction Following Revelation
The news triggered a considerable reaction in the stock market, leading to a drastic drop in Progyny's stock price. It plummeted by $7.98, equating to a decline of around 32.7%, which left investors reeling. The share price settled at $16.46 following this unfortunate announcement, representing a tangible financial hit to many stakeholders.
Investor Rights and Legal Support
Shareholders of Progyny who feel impacted by these developments are encouraged to seek legal advice to understand their rights better. The Law Offices of Frank R. Cruz are ready to assist those who purchased Progyny securities and want to explore their options regarding these matters.
Contact Information for Shareholders
For more details or to discuss the implications of this investigation, shareholders can reach out directly to Frank R. Cruz, who is situated at 2121 Avenue of the Stars, Suite 800, Century City, California 90067. They can contact the office at 310-914-5007. It is also important for those who wish to communicate via email to include essential details such as their mailing address, telephone number, and the number of shares they purchased.
Follow Us for Updates
To stay informed on the investigation and other updates, interested parties can follow the Law Offices of Frank R. Cruz on social media platforms.
Frequently Asked Questions
What is the purpose of the investigation into Progyny, Inc.?
The investigation aims to evaluate potential violations of federal securities laws that may have negatively impacted investors.
How significant was the client loss reported by Progyny?
Progyny disclosed the loss of a major client representing about 670,000 members, which accounted for 12% of its revenue for the preceding six months.
What happened to Progyny's stock price after the announcement?
Following the news of the client loss, Progyny's stock price experienced a significant decline of 32.7%, falling to $16.46 per share.
Who can investors contact for more information?
Investors can contact The Law Offices of Frank R. Cruz for assistance related to their investments in Progyny by calling 310-914-5007.
Why is this situation being treated as attorney advertising?
Certain jurisdictions may classify this announcement as attorney advertising under applicable legal and ethical standards.
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