NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 26, 2021 to file lead plaintiff applications in a securities class action lawsuit against MultiPlan Corporation f/k/a Churchill Capital Corp. III (“Churchill”) (NYSE: MPLN), if they purchased the Company’s securities between July 12, 2020 and November 10, 2020, inclusive (the “Class Period”) and/or were holders of Churchill Class A common stock entitled to vote on Churchill’s merger with and acquisition of Polaris Parent Corp. and its consolidated subsidiaries completed in October 2020. This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of MultiPlan f/k/a Churchill Capital Corp. III or held Churchill Class A common stock as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nyse-mpln/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 26, 2021.
About the Lawsuit
MultiPlan f/k/a Churchill Capital Corp. III and certain of its executives are charged with failing to disclose material information in connection with the merger and during the Class Period, violating federal securities laws.
On July 12, 2020, Churchill announced that it had entered into an agreement to merge with MultiPlan, subject to approval by Churchill stockholders, which subsequently was completed and closed on October 8, 2020. On November 11, 2020, Muddy Waters issued a scathing report on Churchill III alleging that MultiPlan was in the process of losing its largest client, UnitedHealthcare, which was estimated to cost the Company up to 35% of its revenues and 80% of its levered free cash flow within two years, that MultiPlan had obscured its deteriorating financial position in presentations to investors, and other negative revelations.
On this news, shares of Churchill plummeted.
The case is Srock v. MultiPlan Corporation, No. 21-cv-01640.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.