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Oak Street Health, Inc. Investigation


The law firm of Kirby McInerney LLP is investigating potential claims against Oak Street Health, Inc. (“Oak Street” or the “Company”) (NYSE: OSH). The investigation concerns whether Oak Street has violated the federal securities laws and/or engaged in other unlawful business practices.
 
Oak Street operates primary care centers serving Medicare beneficiaries. The Company contracts with health plans to generate medical costs savings and realize a return on its investment in primary care.
 
On November 8, 2021, Oak Street disclosed that the U.S. Department of Justice (“DOJ”) is investigating whether the Company may have violated the False Claims Act. Specifically, Oak Street disclosed in a Form 10-Q that on November 1, 2021, it received a civil investigative demand (“CID”) from the DOJ requesting documents and information related to the Company providing free transportation to federal healthcare beneficiaries and related to its relationships with third-party marketing agents.
 
On this news, the Company’s share price declined by $9.75 per share, or approximately 20.8%, from $46.89 per share to close at $37.14 per share on November 9, 2021.
 

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