NEW YORK, Feb. 28, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Progyny, Inc. PGNY based on allegations that Progyny may have disclosed materially misleading business information to the investing public.

SO WHAT: If you have purchased Progyny securities, you may be entitled to compensation without payment of expenses or costs through a contingency fee arrangement. Law firm Rosen is preparing a class action lawsuit to recover investor losses.

WHAT TO DO NEXT: To participate in the prospective class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=10272 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email pkim@rosenlegal.com or cases@rosenlegal.com for information about the Class Action.

WHAT IS THIS ABOUT: On December 7, 2022, market analyst Jehoshaphat Research published a 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 “appeared to have 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’. Due to this news, Progyny share price fell sharply in intraday trading on December 7, 2022.

WHY ROSES LAW: We encourage investors to select qualified advisors with a track record in leadership positions. Frequently, companies that issue notices do not have comparable experience, resources, or meaningful recognition from peers. A lot of these law firms don’t really litigate…