Definitive Healthcare Corp. (DH)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Definitive Healthcare Corp. (“Definitive Healthcare” or “the Company”) (NASDAQ: DH). Investors who purchased Definitive Healthcare securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Definitive Healthcare has violated federal securities laws.
On August 1, 2023, Definitive Healthcare issued a press release announcing that “[o]n July 31, 2023, the Audit Committee of the Board of Directors of the Company (the ‘Audit Committee’) . . . concluded that the Company’s previously issued audited consolidated financial statements as of December 31, 2022 and 2021 and for the years ended December 31, 2022, 2021 and 2020, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the ‘2022 Annual Report’), and the Company’s unaudited condensed consolidated financial statements included in the Quarterly Reports on Form 10-Q for the quarterly periods within those years (the ‘Historical Quarterly Reports’), as well as the unaudited condensed consolidated financial statements included in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (the ‘Q1 2023 Quarterly Report’ and, together with the 2022 Annual Report and the Historical Quarterly Reports, the ‘Reports’ and all financial statements included in the Reports, collectively the ‘Affected Financials’), should no longer be relied upon. Similarly, related press releases, shareholder communications, investor presentations or other communications describing relevant portions of the Affected Financials should no longer be relied upon.” Specifically, Definitive Healthcare stated that it had “determined during the second quarter of 2023 that sales in certain states were subject to sales tax and that the Company had not assessed such sales tax on sales of its services to customers” and that “[t]he Company expects to record an aggregate increase to previously reported general and administrative expense of between $6.8 million to $10.2 million over the periods impacted[.]” On this news, Definitive Healthcare’s stock price fell sharply during intraday trading on August 1, 2023.
If you are aware of any facts relating to this investigation or purchased Definitive Healthcare securities, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
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Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]