An investigation on behalf of investors of American Well Corporation (NYSE: AMWL) shares over potential securities laws violations by American Well Corporation and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of American Well Corporation (NYSE: AMWL) concerning whether a series of statements by American Well Corporation (NYSE: AMWL regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Boston, MA based American Well Corporation operates as a telehealth company that enables digital delivery of care for healthcare.

On or about September 17, 2020 American Well Corporation (NYSE: AMWL) sold about 41.2 million shares of stock in its initial public stock offering (the "IPO") at $18.00 a share, raising nearly $742 million in new capital.

On June 2, 2021, the stock closed at $13.03. On March 24, 2011, American Well Corporation announced its financial resulrs for the fourth quarter and full year 2020. American Well Corporation reported that its annual Total Revenue rose from $148.85 million in 2019 to $245.26 million in 2020, and that Net Loss increased from $88.36 million in 2019 to $228.62 million in 2020.

Since the IPO shares of American Well Corporation (NYSE: AMWL) declined to as low as $9.69 per share on May 13, 2021. American Well Corporation also issued its initial outlook for 2021.