LOS ANGELES–(Small business WIRE)–The Schall Legislation Firm, a national shareholder rights litigation agency, announces the submitting of a course motion lawsuit from Clover Wellbeing Investments, Corp. f/k/a Social Capital Hedosophia Holdings Corp. III (“Clover” or “the Company”) (NASDAQ: CLOV, CLOVW) violations of the federal securities regulations.
Buyers who obtained or otherwise acquired publicly traded Clover securities between Oct 6, 2020 and February 4, 2021, inclusive (the “Class Period”) and/or acquired or or else acquired Clover securities pursuant or traceable to the registration statement and prospectus issued in connection with the December 2020 Merger of Clover and Social Cash III, are inspired to make contact with the company ahead of April 6, 2021.
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We also inspire you to make contact with Brian Schall of the Schall Law Business, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to talk about your rights free of charge of charge. You can also reach us through the firm’s web site at www.schallfirm.com, or by email at [email protected]
The course, in this situation, has not but been certified, and right until certification occurs, you are not represented by an attorney. If you pick to take no motion, you can continue to be an absent class member.
In accordance to the Grievance, the Organization designed untrue and misleading statements to the market. Clover was the issue of an active DOJ investigation of at least 12 difficulties including kickbacks and deceptive advertising and marketing. The investigation represented a main menace to the Company’s foreseeable future because of to its dependence on Medicare for earnings. The Company’s sales had been not pushed by its “best-in-class” technologies as it touted, but alternatively by deceptive advertising procedures aimed at senior citizens. A substantial portion of the Company’s income have been derived from an undisclosed marriage with a brokerage company controlled by the Clover’s head of sales. Primarily based on these details, the Company’s public statements have been phony and materially deceptive throughout the class period of time. When the sector discovered the truth about Clover, buyers experienced damages.
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