LifeStance Health Group, Inc.
|Company Name||LifeStance Health Group, Inc.|
On October 19, 2023, The Bear Cave published a report alleging that it "uncovered dozens of complaints concerning overbilling, fraudulent billing, and unfair and deceptive business practices" at LifeStance, including "allegations that LifeStance is scheduling therapy appointments without the knowledge of patients to incur spurious cancellation and no-show fees, allegations that LifeStance added unearned billing codes to patient bills, allegations that LifeStance sends bills to people that have never used its services, and multiple employee reviews concerning billing fraud."
On this news, LifeStance’s stock price fell $0.54, or 8.9%, to close at $5.53 per share on October 19, 2023, thereby injuring investors.
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