Did You Acquire (CLOV) before November 17, 2020? Should Clover Health Management be Held Accountable for Investors Losses? Contact Johnson Fistel
SAN DIEGO, January 18, 2021, /Globe Newswire/
Johnson Fistel, LLP is investigating potential claims on behalf of Clover Health Investments Corp. (NASDAQ: CLOV), formerly known as Social Capital Hedosophia Holdings Corp. III (NYSE: IPOC) (“SCH”, “Clover”, or the “Company”) against certain officers and directors.
Last year a class action lawsuit was filed against Clover. The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and misleading statements and failed to disclose that: (i) SCH had performed inadequate due diligence into Legacy Clover before the Business Combination, or else ignored and failed to disclose multiple red flags concerning Legacy Clover’s business and operations; (ii) since, before the Business Combination, Legacy Clover and Clover have been under active investigation by the U.S. Department of Justice (“DOJ”) for multiple issues ranging from kickbacks to marketing practices to undisclosed third-party deals; (iii) Legacy Clover’s and Clover’s sales were, and are, driven in large part by an undisclosed related party deal, misleading marketing targeting the elderly, and other illicit practices; (iv) Defendants overstated the capabilities of the Company’s technology; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you are a current, long-term shareholder of Clover Health, formerly known as Social Capital Hedosophia Holdings Corp. III, holding shares before November 17, 2020, you may have standing to hold Clover Health harmless from the alleged harm caused by the Company’s officers and directors by making them personally responsible. You may also be able to assist in reforming the Company’s corporate governance to prevent future wrongdoing. Click here to join this action
If you are interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number. Additionally, if you have owned Clover Health, formerly known as Social Capital Hedosophia Holdings Corp. III, holding shares before November 17, 2020, you can [Click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com