NEW YORK, December 28, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Progyny, Inc. (“Progyny” or the “Company”) PGNY on behalf of the Progyny shareholders. Our investigation concerns whether Progyny has violated federal securities laws and/or engaged in other illegal business practices.

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On December 7, 2022, Jehoshaphat Research published a brief report on Progyny entitled “A Love Child of Accounting Games & Credit Risk” (the “Jehoshaphat Report”). The Jehoshaphat report claims that Progyny “misleads the investment community through its financial reporting practices” and that Progyny “is actually unprofitable but masks this problem with accounting games.” Among other things, the report alleges that Progyny “apparently recently decided to stop accumulating compensation for customer cancellations, which… may have added up to another ~400 basis points to both revenue and gross profit margins,” and that ” Loan losses’ reported by Progyny ‘are more like reversals of excess revenue’, citing the company’s ‘high quality corporate customer base’.

As a result of this news, Progyny’s share price fell sharply during intraday trading on December 7, 2022.

If you have purchased or otherwise acquired Progyny stock and have suffered a loss, are a long-term shareholder, have information, would like to learn more about these claims, or have any questions about this notice or your rights or interests in relation to these matters, please contact us Brandon Walker or Melissa Fortunato via email at investigations@bespc.comby phone at (212) 355-4648 or by fill out this contact form. There are no costs or obligations for you.

About Bragar Eagle & Squire, PC:

Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York and California. The law firm represents private and institutional investors in commercial, securities,…