If you purchased Clover securities, and/or would like to discuss your legal rights and options please visit CLOV Shareholder Investigation or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
On February 4, 2021, Hindenburg Research published a report about Clover titled ” Clover Health: How the “King of SPACs” Lured Retail Investors Into a Broken Business Facing an Active, Undisclosed DOJ Investigation.”
The report alleged 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[.]” The report further noted that “multiple former [Clover] employees explained that much of Clover’s sales are fueled by a major undisclosed relationship between Clover and an outside brokerage firm controlled by Clover’s Head of Sales, Hiram Bermudez.”
On this news shares of Clover stock fell $1.72 per share to close at $12.23 per share on February 4, 2021.
If you purchased Clover securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/cloverhealthinvestmentscorp-clov-shareholder-class-action-lawsuit-stock-fraud-360/apply/ Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
Matthew E. Guarnero
Bernstein Liebhard LLP