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Gainey McKenna & Egleston Announces a Class Action Lawsuit Has Been Filed Against Phreesia, Inc. (PHR)
NEW YORK, May 14, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of Delaware on behalf of all persons or entities who purchased or otherwise acquired Phreesia, Inc. (“Phreesia” or the “Company”) (NYSE: PHR) securities between May 8, 2025, to March 30, 2026, inclusive (the “Class Period”).
The Complaint alleges that Defendants provided investors with material information concerning Phreesia’s profitability for the fiscal year 2027. The Complaint alleges that Defendants’ statements included, among other things, confidence in Phreesia’s ability to capitalize on its growth potential through continued expansion of its Network Solutions segment, as well as contributions from its AccessOne acquisition.
The Complaint alleges that Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating 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. The Complaint further alleges that such statements absent these material facts caused Plaintiff and other shareholders to purchase Phreesia’s securities at artificially inflated prices.
The Complaint also alleges that after the market closed on March 30, 2026, Phreesia announced significantly reduced revenue growth projections for fiscal year 2027 guidance. The Complaint continues to allege that 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.
The Complaint alleges that investors and analysts reacted immediately to Phreesia’s revelation and that the price of Phreesia’s common stock declined from a closing market price of $11.41 per share on March 30, 2025, to $8.38 per share on March 31, 2026, a decline of about 27%.
Investors who purchased or otherwise acquired shares of Phreesia should contact the Firm prior to the July 13, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
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