SHAREHOLDER ACTION ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Clover Health Investments, Corp. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
THE ANGEL–(BUSINESS WIRE) – Schall law firm, a national shareholder rights law firm, announces the filing of a class action lawsuit against Clover Health Investments, Corp. f / k / a Social Capital Hedosophia Holdings Corp. III (“Clover” or “the Company”) known ”) (NASDAQ: CLOV, CLOVW) Violations of federal securities laws.
Investors who purchased or otherwise acquired publicly traded Clover securities between October 6, 2020 and February 4, 2021 inclusive (the “Class Period”); and / or any purchased or otherwise acquired Clover Securities pursuant to the Registration Statement and Prospectus issued in connection with the December 2020 merger of Clover and Social Capital III may be contacted prior to April 6, 2021.
If you are a shareholder who has suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall law firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335 to discuss your rights at no charge. You can also contact us on the company’s website at www.schallfirm.com or by email at firstname.lastname@example.org.
In this case, the class has not yet been certified and you will not be represented by a lawyer until certification. If you don’t take action, you can remain an absent class member.
According to the complaint, the company made false and misleading statements to the market. Clover has been the subject of active investigation by the DOJ on at least 12 topics, including setbacks and misleading marketing. The investigation posed a major threat to the company’s future as its revenues depend on Medicare. The company’s sales were not driven by the “best-in-class” technology it touted, but rather by misleading marketing practices for seniors. A significant portion of the company’s sales came from an undisclosed relationship with a brokerage firm controlled by the Clover’s sales director. Because of these facts, the company’s public statements were false and materially misleading throughout the teaching period. When the market learned the truth about Clover, investors suffered damage.
Join the case to make up for your losses.
Schall law firm represents investors around the world and specializes in class and shareholder disputes.
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