INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims Against Ontrak, Inc.

NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Ontrak, Inc. (“Ontrak” or the “Company”) (NASDAQ: OTRK). The investigation focuses on the Company’s possible violations of federal securities laws.

On March 1, 2021, Ontrak issued a press release announcing preliminary financial results for the fourth quarter and full year 2020. Therein, the Company stated that its largest customer had terminated its contract with Ontrak, effective June 26, 2021. The Company stated that this customer “evaluated Ontrak on a provider basis” and “[a]s such, the customer evaluated [Ontrak’s] performance based on [its] ability to achieve the lowest possible cost per medical visit, and not on [its] clinical outcomes data or medical cost savings.” The Company also stated that “the coaching model which Ontrak has pioneered for over a decade was seen by the customer to be less relevant to their performance metrics.”

On this news, the Company’s share price fell $27.32, or approximately 46%, to close at $31.62 per share on March 1, 2021, thereby injuring investors.

If you purchased or otherwise acquired Ontrak securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [e-mail], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.

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