The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired Phreesia, Inc. (“Phreesia” or the “Company”) (NYSE:PHR) securities during the period of May 8, 2025 through March 30, 2026, inclusive (“the Class Period”).
If you suffered a loss on your Phreesia investments, you have until July 13, 2026 to request lead plaintiff appointment. Courts do not consider lead plaintiff applications submitted after this deadline. If you choose to take no action, you may remain an absent class member. For more information about the lawsuit:
[CONTACT THE FIRM IF YOU SUFFERED A LOSS]
What Is This Lawsuit About? The lawsuit alleges that the Company made materially false and misleading statements and/or concealing material adverse facts concerning the true state of Phreesia’s slowing demand and reduced visibility in key revenue streams, notably, the weakened pharmaceutical marketing commitments in its Network Solutions segment.
On March 30, 2026, Phreesia announced significantly reduced revenue growth projections for fiscal year 2027 guidance. The Company attributed the shortfall against its prior guidance to a combination of macroeconomic factors including “worsening visibility” and weaker pharmaceutical marketing commitments within its Network Solutions segment. Yet on the third quarter 2026 earnings call on December 8, 2025, CFO Balaji Gandhi had told investors: “For fiscal year 2027, we expect revenue to be in the range of $545 million to $559 million.” On the same call, management described “progress” in the selling season for network solutions. The Company did not reference the visibility challenges. Separately, on September 4, 2025, CEO Chaim Indig stated that the Company’s acquisition of AccessOne Parent Holdings, Inc. (“AccessOne”), a provider of financing solutions for healthcare receivables, would “expand [its] addressable market by roughly $6 billion” and that the combined total addressable market increase would be “approximately $24 billion from approximately $10 billion.” CFO Gandhi projected AccessOne would contribute “approximately $35 million in annualized revenue” to the Company. On this news, the price of Phreesia shares declined by $3.03 per share, or approximately 27%, from $11.41 per share on March 30, 2026 to close at $8.38 on March 31, 2026.
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The Lead Plaintiff Appointment Process. The federal securities laws permit any investor who acquired eligible securities during the class period to seek appointment as lead plaintiff in a class action lawsuit. Courts typically appoint the investor(s) with the largest financial loss in the case and the ability to represent the class rather than investors with simply the largest investment portfolio. Courts regularly appoint individual investors, whether acting alone or as a group, as lead plaintiffs. The rights of any investor who bought shares during the class period are generally already protected. However, lead plaintiffs have the power to influence case strategy and have a say in settlement decisions, as well as decisions concerning allocation of settlement funds among class members.
[LEARN MORE ABOUT THE LEAD PLAINTIFF PROCESS]
What Should I Do? If you purchased or otherwise acquired Phreesia securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260515077079/en/
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