Court Approves $29.25 Million Shareholder Recovery for GoHealth Investors

On May 22, 2024, Judge Jeremy C. Daniel of the U. S. District Court for the Northern District of Illinois granted final approval May 22 of a $29.25 million recovery in long-running securities class action case against GoHealth.

The Case Against GoHealth

The case concerns allegations that GoHealth failed to disclose a strategic business shift that it implemented prior to its IPO. According to the allegations, the shift included rapid customer expansion and associated negative impacts on GoHealth’s key financial metrics at the time of and after the IPO. Plaintiffs alleged that by failing to disclose that shift and its financial impacts, GoHealth’s IPO Registration Statement claims that it would rapidly expand its business while improving its financial metrics were false and misleading.  

Notably, individual investors served as the lead plaintiffs that represented the class of impacted GoHealth investors in this case. Illustrating the important role that shareholders play under U.S. law, this recovery is one of several high-impact results that Robbins Geller Rudman & Dowd LLP has secured in the past year – among them Bioverativ ($84 million recovery) and Walgreens/RiteAid ($192.5 million) – in shareholder actions led by individual investors.  

Robbins Geller partners James E. Barz, Robert J. Robbins, and Sabrina E. Tirabassi led this litigation on behalf of our clients and the class.  

About Robbins Geller  

Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex litigation firms, representing plaintiffs in securities fraud, shareholder derivative, antitrust, corporate takeover, and consumer fraud and privacy cases. With 200 lawyers in 10 offices, Robbins Geller is one of the world’s largest plaintiffs’ firms, and the Firm’s attorneys have obtained many of the largest securities, antitrust, and consumer class action recoveries in history.  

Over the last decade, our Firm has been ranked #1 on the ISS Securities Class Action Services law firm rankings for six out of the last ten years for securing the most monetary relief for investors. In the last four years, Robbins Geller recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm during that time. The Firm secured the largest-ever securities fraud class action settlement – $7.2 billion – in In re Enron Corp. Securities Litigation.  

For media inquiries, please contact media@rgrdlaw.com or call (619) 338-3821.  

In re GoHealth, Inc. Securities Litigation, No. 1:20-cv-05593 (N.D. Ill.).