Phreesia, Inc.
Case Overview
Status: | Status: Investigating |
Company Name: | Company Name: Phreesia, Inc. |
Ticker: | Ticker: PHR |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP is investigating potential claims against Phreesia, Inc. (“Phreesia” or the “Company”) (NYSE: PHR). The investigation concerns whether Phreesia and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
On May 30, 2024, Phreesia issued a press release announcing financial results for the first quarter of the fiscal year 2025. Among other items, Phreesia update its “revenue outlook for fiscal year 2025 to a range of $416 million to $426 million from a previous range of $424 million to $434 million.” Phreesia advised that “[t]he updated revenue range incorporates the accelerated winddown of a clearinghouse client relationship” and that “[t]he revenue range provided for fiscal 2025 assumes no additional revenue from potential future acquisitions completed between now and January 31, 2025.” On this news, the price of Phreesia shares declined by $2.39 per share, or approximately 11.22%, from $21.31 on May 30, 2024, to close at $18.92 per share on May 31, 2024.
On May 30, 2024, Phreesia issued a press release announcing financial results for the first quarter of the fiscal year 2025. Among other items, Phreesia update its “revenue outlook for fiscal year 2025 to a range of $416 million to $426 million from a previous range of $424 million to $434 million.” Phreesia advised that “[t]he updated revenue range incorporates the accelerated winddown of a clearinghouse client relationship” and that “[t]he revenue range provided for fiscal 2025 assumes no additional revenue from potential future acquisitions completed between now and January 31, 2025.” On this news, the price of Phreesia shares declined by $2.39 per share, or approximately 11.22%, from $21.31 on May 30, 2024, to close at $18.92 per share on May 31, 2024.