LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Clover Health Investments, Corp. (“Clover Health” or “the Company”) (NASDAQ: CLOV, CLOVW) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Clover Health is the subject of a report released by Hindenburg Research on February 4, 2021. The report, titled: “Clover Health: How the ‘King of SPACs’ Lured Retail Investors Into a Broken Business Facing an Active, Undisclosed DOJ Investigation,” alleges 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.” Based on this news, shares of Clover Health traded down more than 10% in intraday trading.
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