Kaskela Law LLC Announces Shareholder Class Action Lawsuit Against Clover Health Investments Corp. and Encourages Investors to Contact the Firm – CLOV, IPOC
PHILADELPHIA, April 6, 2021 (GLOBE NEWSWIRE) – Kaskela Law LLC announces that a class action lawsuit against Clover Health Investments Corp. (NASDAQ: CLOV) (“Clover” or the “Company”), formerly known as Social Capital Hedosophia Holdings Corp. III (NYSE: IPOC) on behalf of investors who purchased shares in the Company between October 6, 2020 and February 4, 2021 inclusive (including the “Class Period”).
Clover shareholders who have bought or acquired CLOV or IPOC securities before November 17, 2020 We encourage you to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) At (484) 258-1585 or email (484) 258-1585 email@example.com or online at https://kaskelalaw.com/case/clover/, for additional information about this promotion and your statutory rights and options.
As detailed in the complaint, Hindenburg Research released a research report on February 4, 2021, which found that Clover’s flagship platform, Clover Assistant, was the subject of an investigation by the U.S. Department of Justice (DOJ) on various topics including illegal setbacks, marketing practices and Undisclosed Related Party Transactions. Hindenburg found that Clover’s sales growth was not being driven by technology, but rather by misleading sales practices. Following the news, Clover common stock fell $ 1.72 per share, or over 12%, to close at $ 12.23 per share on February 4, 2021.
The following day, Clover filed a Form 8-K stating that for the period January 1, 2020 to date, the SEC was conducting an investigation and requesting the retention of documents and data related to certain matters related to the referenced in the EU [Hindenburg Research report]. ”
Clover shareholders are invited to contact Kaskela Law LLC for more information on this promotion. Kaskela Law LLC only represents investors in the areas of securities fraud, corporate governance, and merger and acquisition disputes. For more information about Kaskela Law LLC, please visit www.kaskelalaw.com.
D. Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Boulevard, Suite 100
Newtown Square, PA 19073
This announcement may constitute a solicitation of a lawyer in certain jurisdictions.