Investigation announced for Investors in shares of Progyny, Inc. (NASDAQ: PGNY) over possible Violations of Securities Laws

An investigation was announced over potential securities laws violations by Progyny, Inc. in connection with certain financial statements.

Investors who purchased shares of Progyny, Inc. (NASDAQ: PGNY), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Progyny, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

New York based Progyny, Inc., a benefits management company, specializes in fertility and family building benefits solutions for employers in the United States. On December 7, 2022, market analyst Jehoshaphat Research published a report addressing Progyny, entitled "A Love Child of Accounting Games & Credit Risk" (the "Jehoshaphat Report"). The Jehoshaphat Report alleges that Progyny "is deceiving the investor community via its financial reporting practices" and that Progyny "is actually unprofitable but masks this problem with accounting games." Among other items, the report alleges that Progyny "apparently decided to recently stop accruing allowances for customer cancellations, which . . . may have added up to another ~400bps to both revenues and gross profit margins" and that "credit losses" reported by Progyny "are more like reversals of inflated revenues," citing the Company's "corporate customer base of high quality."

Shares of Progyny, Inc. (NASDAQ: PGNY) declined from $53.08 per share on March 30, 2022, to as low as $29.25 per share on December 07, 2022.

Those who purchased shares of Progyny, Inc. (NASDAQ: PGNY) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.