Sign In  |  Register  |  About Mill Valley  |  Contact Us

Mill Valley, CA
September 01, 2020 1:29pm
7-Day Forecast | Traffic
  • Search Hotels in Mill Valley

  • ROOMS:

Shareholder Alert: Robbins LLP is Investigating Clover Health Investments, Corp. (CLOV) on Behalf of Shareholders

Shareholder rights law firm Robbins LLP is investigating Clover Health Investments, Corp. (NASDAQ: CLOV) on behalf of shareholders to determine whether certain Clover officers and directors violated the Securities Exchange Act of 1934 and breached their fiduciary duties to the Company. Clover Health provides medical insurance services.

If you suffered a loss due to Clover Health Investment Corp.'s misconduct, click here.

Clover Health Investment, Corp. (CLOV) Misled Shareholders Ahead of Going Public

According to a class action complaint filed against Clover Health, on October 6, 2020, the Company issued a press release announcing plans to become a publicly traded company via a merger with Social Capital Hedosophia Holdings Corp. III ("SCH"). SCH was a special purpose acquisition company (SPAC) that traded on the NYSE under IPOC.

On January 7, 2021, Clover and SCH announced it had completed the business combination and that shares of Clover would trade on NASDAQ under ticker symbol CLOV the next day. On February 4, 2021, Hindenberg Research published a report revealing "how Clover Health and its Wall Street celebrity promoter, Chamath Palihapitiya, misled investors about critical aspects of Clover's business in the run-up to the company's SPAC go-public transaction last month." Notably, Hindenberg revealed that Clover's business model and software offering "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." On this news, shares of Clover dropped more than 12% from $13.95 on February 3, 2021, to $12.23 on February 4, 2021, representing a loss of $700 million in market capitalization. The stock continued to tumble and now trades at just $8.40.

Clover Health Investment, Corp. (CLOV) Shareholders Have Options

Contact us to learn more:

Lauren Levi

(800) 350-6003

Shareholder Information Form

Robbins LLP is a nationally recognized leader in shareholder rights law. To be notified if a class action against Clover Health Investment, Corp. settles or to receive free alerts about company executives engaged in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.


Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Copyright © 2010-2020 & California Media Partners, LLC. All rights reserved.