SAN DIEGO, Feb. 5, 2021 /PRNewsCentre/ — Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by Clover Health Investments, Corp. ("Clover Health" or the "Company") (NASDAQ: CLOV).
On January 7, 2021, Clover Health merged with SPAC Social Capital Hedosophia Holdings Corp. III (NYSE: IPOC) and began to trade under the symbol CLOV.
On February 4, 2021, Hindenburg Research issued a report titled "Clover Health: How the ‘King of SPACs’ Lured Retail Investors Into a Broken Business Facing an Active, Undisclosed DOJ Investigation." Hindenburg Research detailed a series of alarming red flags about Clover Health. Specifically, the report stated that "Clover has not disclosed that its business model and its software offering, called the Clover Assistant, are under active investigation by the Department of Justice (DOJ), which is investigating at least 12 issues ranging from kickbacks to marketing practices to undisclosed third-party deals."
Following this news, Clover Health’s stock price fell 12.33% on February 4, 2021.
If you have information that could assist in this investigation, including past employees and others, or if you are a Clover Health shareholder and are interested in learning more about the investigation, please contact Jim Baker (firstname.lastname@example.org ) by email or phone at 619-814-4471. If emailing, please include a phone number.
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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.
SOURCE: Johnson Fistel, LLP