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Thursday, May 30, 2024 | Back issues
Courthouse News Service Courthouse News Service

Securities Fraud

The SEC sued four former executives of Outcome Health in federal court — CEO Rishi Shah, president Shradha Agarwal, CFO Brad Purdy and executive VP Ashik Desai — claiming they helped raise $487 million through “a simple and pervasive fraud: Outcome was routinely billing clients — and recognizing revenue — for ads it never ran.”

CHICAGO — The SEC brought a federal complaint against four former executives of Outcome Health — CEO Rishi Shah, president Shradha Agarwal, CFO Brad Purdy and executive VP Ashik Desai — claiming they helped raise $487 million through “a simple and pervasive fraud: Outcome was routinely billing clients — and recognizing revenue — for ads it never ran.”

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