LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz continues its investigation of Clover Health Investments, Corp. f/k/a Social Capital Hedosophia Holdings Corp. III (“Clover Health” or the “Company”) (NASDAQ: CLOV, CLOVW) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On February 4, 2021, Hindenburg Research released 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 alleged, among other things, 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."
On this news, the Company’s stock price fell sharply during intraday trading on February 4, 2021.
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If you purchased Clover Health securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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