R1 RCM Inc.
|Company Name||R1 RCM Inc.|
On October 16, 2023, Jehoshaphat Research published a report alleging, among other things, that RCM’s “revenues and profits are grossly overstated,” that certain reported revenue growth has been “derived from inputs based on assumptions about future collections” which will eventually “collapse,” and that the Company’s revenue is “chronically inflated.” The report also points out that RCM has “recently seen the departures of the CEO, CFO, CCO and CSO,” which “speak to the risks [that] have surfaced.”
On this news, RCM’s stock price fell $1.09, or 8.3%, to close at $12.11 per share on October 16, 2023, thereby injuring investors.
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