|Company Name||Clover Health Investments, Corp.|
|Class Period||October 6, 2020 to February 4, 2021|
|Motion Deadline||April 6, 2021|
The Thornton Law Firm announces that a class action lawsuit has been filed on behalf of investors of Clover Health Investments, Corp. (NASDAQ: CLOV). The case is currently in the lead plaintiff stage. Investors who purchased CLOV stock or other securities between October 6, 2020 and February 4, 2021 or traceable to the Company’s registration statement and prospectus issued in connection with the December 2020 Merger, may contact the Thornton Law Firm’s investor protection team by submitting their information above. Investors may also email at email@example.com or call (617) 531-3917.
The complaint alleges that Clover Health and its senior executives made misleading statements to investors and failed to disclose that: (1) Clover was under active investigation by the Department of Justice for at least 12 issues ranging from kickbacks to undisclosed third-party deals; (2) the DOJ’s investigation presented an existential risk to Clover, since it derives most of its revenues from Medicare; (3) Clover’s sales were not driven by its purported “best-in-class” technology but rather misleading marketing practices that targeted the elderly; and (4) a significant portion of Clover’s sales derived from an undisclosed relationship between Clover and an outside brokerage firm controlled by Clover’s Head of Sales.
Interested Clover investors have until April 6, 2021 to retain counsel and apply to be a lead plaintiff if they are interested to do so. Investors do not need to be a lead plaintiff in order to be a class member. A lead plaintiff acts on behalf of all other investor class members in managing the class action. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.
Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.