Oak Street Health, Inc.
|Company Name||Oak Street Health, Inc.|
On November 8, 2021, after the market closed, Oak Street disclosed that the U.S. Department of Justice (“DOJ”) had launched an investigation into whether the company may have violated the False Claims Act. The Company stated that the DOJ requested “certain documents and information related to the company’s relationships with third-party marketing agents and related to the company’s provision of free transportation to federal health care beneficiaries.”
On this news, Oak Street’s stock price fell $9.75 per share, or 20%, to close at $37.14 on November 9, 2021, thereby injuring investors.
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