MULTIPLAN CORPORATION SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess Of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against MultiPlan Corporation – MPLN
NEW ORLEANS–(BUSINESS WIRE) – Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors they have up April 26, 2021 Lead plaintiffs in class action lawsuit against MultiPlan Corporation f / k / a Churchill Capital Corp. Submit III (“Churchill”) (NYSE: MPLN) if you purchased the Company’s securities between July 12, 2020 and November 10; 2020 inclusive of (the “Class Period”) and / or holders of Churchill Class A common stock entitled to participate in the merger and acquisition of Polaris Parent Corp. and its consolidated subsidiaries, which closed in October 2020, to vote by Churchill in the United States District Court for the Southern Borough of New York.
What you can do
If you have shares in MultiPlan f / k / a Churchill Capital Corp. III purchased or held Churchill Class A common stock as above and would like to discuss your statutory rights and the possible impact this case may have on you and your right to reimbursement of your economic loss, you can call 1-877-515 toll-free with no obligation or cost -1850 or by email (email@example.com) to the managing partner of KSF, Lewis Kahn, or visit https: //www.ksfcounsel. com / case / nyse-mpln / to learn more. If you want to be the lead plaintiff in this class action lawsuit, you must file a motion with the court April 26, 2021.
About the lawsuit
MultiPlan f / k / a Churchill Capital Corp. III and some of its executives are charged with failing to disclose material information in connection with the merger and during the class period, in violation of federal securities laws.
On July 12, 2020, Churchill announced that it had entered into an agreement to merge with MultiPlan, which must be approved by Churchill’s shareholders. This was then completed and closed on October 8, 2020. On November 11, 2020, Muddy Waters issued a damning report on Churchill III claiming MultiPlan has just lost its largest customer, UnitedHealthcare, which the company is estimated to have up to 35% of its sales and 80% of its free cash flow in debt cost within two years and masked the MultiPlan its deteriorating financial position in presentations to investors and other negative revelations.
On that news, Churchill’s shares plummeted.
The case is Srock v MultiPlan Corporation, No. 21-cv-01640.
About Kahn Swick & Foti, LLC
KSF, which partners with former Louisiana Attorney General Charles C. Foti, Jr., is one of the leading securities litigation law firms in the country. KSF assists a wide variety of clients – including public institutional investors, hedge funds, money managers and private investors – in their search for investment losses due to corporate fraud and misconduct by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you can visit www.ksfcounsel.com.