ROSEN, RESPECTED INVESTOR COUNSEL, Files Securities Class Action Lawsuit Against Clover Health Investments, Corp. f/k/a Social Capital Hedosophia Holdings Corp. III; Encourages Investors with Losses in Excess of $100K to Contact the Firm
NEW YORK, February 7, 2021 (GLOBE NEWSWIRE) – WHY: Rosen Law Firm, a global investor rights law firm, has announced that it has acted on behalf of buyers of the securities of Clover Health Investments, Corp. f / k / a social capital Hedosophia Holdings Corp. III (NASDAQ: CLOV, CLOVW) (NYSE: IPOC) who: (1) purchased or otherwise acquired publicly traded Clover securities between October 6, 2020 and February 4, 2021 inclusive (the “Class Period”); and / or (2) purchased or otherwise acquired Clover securities in accordance with the registration statement and prospectus issued in connection with the merger of Clover and Social Capital III in December 2020. If you want to stand as the lead plaintiff, you must move the court no later than April 6, 2021.
SO WHAT: If you purchased Clover Securities during the Class Period, you may be entitled to compensation without paying any out-of-pocket expenses or costs through a contingent fee agreement.
WHAT TO DO NEXT: To participate in the Clover class action, go to http://www.rosenlegal.com/cases-register-2030.html or call Phillip Kim, Esq. toll free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information about the class action. If you want to stand as the lead plaintiff, you must move the court no later than April 6, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute.
WHY ROSEN LAW: We encourage investors to select qualified consultants with a track record in leadership roles. Companies that issue notices often lack comparable experience or resources. Rosen law firm represents investors around the world and focuses its practice on class action and derivatives litigation. The Rosen law firm has filed the largest class action lawsuit against a Chinese company to date. Rosen law firm was ranked # 1 by ISS Securities Class Action Services for number of class action settlements in 2017. The firm has been in the top 3 every year since 2013 and has collected hundreds of millions of dollars on investors. In 2019 alone, the company raised more than $ 438 million for investors. In 2020, founding partner Laurence Rosen was named the Titan of Plaintiffs’ Bar by Act 360. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, throughout the classroom and in the registration statement, defendants made false and / or misleading information and / or failed to disclose that: (1) Clover’s Clover Assistant platform was actively investigated by the Department of Justice (“DOJ”). ) for at least 12 topics ranging from setbacks to marketing practices to undisclosed dealings with third parties; (2) The DOJ’s investigation posed an existential risk to the company as it derives most of its revenues from Medicare. (3) Clover’s sales were driven by an important, undisclosed related party deal and misleading marketing to the elderly, not alleged “best-in-class” technology. (4) A significant portion of Clover’s sales came through an undisclosed relationship between Clover and an outside brokerage firm controlled by Clover’s sales director. and (5) as a result, Defendants’ statements about their business, operations and prospects were materially false and misleading and / or were unfounded at all relevant times. When the real details hit the market, the lawsuit alleged that investors suffered damage.
To participate in the Clover class action, go to http://www.rosenlegal.com/cases-register-2030.html or call Phillip Kim, Esq. toll free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information about the class action
No class has been certified. Until a class is certified, you will not be represented by an attorney unless you keep one. You can choose an attorney of your choice. You can also remain an absent class member and do nothing at this point. An investor’s ability to participate in a possible future recovery does not depend on whether they are the lead plaintiff.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
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