Plymouth County Retirement System and Oklahoma Police Pension and Retirement System v. Evolent Health, Inc., et al.

"The TAC alleged, among other things, that throughout the Settlement Class Period (as defined below), Defendants made false and misleading statements regarding the partnership between Evolent, a provider of technology-enable clinical and administrative services to health systems, and Passport, including: (1) statements about Evolent’s purported cost savings for

Passport; (2) statements that Evolent was providing services to Passport “at cost” or at a lower cost compared to prior periods; (3) statements that Evolent did not intend to purchase an ownership stake in Passport or its assets; and (4) statements that Evolent believed that Passport’s financial condition was improving. The TAC asserted that Defendants’ alleged materially false and misleading statements and omissions artificially inflated Evolent’s common stock price during the Settlement Class Period and that Evolent’s common stock price declined substantially when the truth regarding Defendants’ alleged misrepresentations was revealed."