Kessler Topaz Meltzer & Check, LLP: Investor Class Action Filed Against Clover Health Investments, Corp. for Securities Fraud Violations
Case Background:
Clover Health is a special purpose acquisition company (SPAC) that provides health insurance services.
On February 4, 2021, Hindenburg Research published a report entitled “Clover Health: How the ‘King of SPACs’ Lured Retail Investors Into a Broken Business Facing an Active, Undisclosed DOJ Investigation[.]” The report alleges that “Clover had 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, the Company’s stock price fell sharply during intraday trading on February 4, 2021.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at [email protected].
Please complete this form relating to your transactions for Clover Health Investments, Corp. f/k/a Social Capital Hedosophia Holdings Corp. III (NASDAQ: CLOV, CLOVW) (NYSE: IPOC, IPOC.WS, IPOC.U) (“Clover Health”) securities between between October 6, 2020 and February 4, 2021, inclusive (the “Class Period”).
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