An investigation on behalf of investors of Oscar Health, Inc. (NYSE: OSCR) shares over potential securities laws violations by Oscar Health, Inc. 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 Oscar Health, Inc. (NYSE: OSCR) concerning whether a series of statements by Oscar Health, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

New York based Oscar Health, Inc. provides health insurance products and services to individuals, families, and businesses in the United States.

Oscar Health, Inc. reported that its annual Total Revenue rose from $553.77 million in 2019 to $589.64 million in 2020, and that its Net Loss increased from $261.18 million in 2019 to $406.82 million in 2020.

On or about March 3, 2021, Oscar Health, Inc sold about 37 million shares of stock in its initial public stock offering (the "IPO") at $39.00 a share, raising nearly $1.4 billion in new capital.

On May 13, 2021, Oscar Health, Inc reported earnings for the first time since the IPO. The Company reported an $87.4 million loss or $(0.98) per share in its first quarter of 2021. Analysts polled by FactSet had expected Oscar to report a loss of 53 cents a share.

Shares of Oscar Health, Inc (NYSE: OSCR) declined to as low as $19.78 per share on May 13, 2021.