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Press release content from Globe Newswire. The AP news staff was not involved in its creation.

DEADLINE: Zhang Investor Law Alerts Investors of April 6 Deadline in Securities Class Action ...

March 24, 2021 GMT

NEW YORK, March 24, 2021 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Clover Health Investments, Corp. f/k/a Social Capital Hedosophia Holdings Corp. III (NASDAQ: CLOV, CLOVW) (NYSE: IPOC) who: (1) purchased or otherwise acquired publicly traded Clover securities between October 6, 2020 and February 4, 2021, inclusive (the “Class Period”); and/or (2) purchased or otherwise acquired Clover securities pursuant or traceable to the registration statement and prospectus issued in connection with the December 2020 Merger of Clover and Social Capital III.

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To join the class action, go to  http://zhanginvestorlaw.com/join-action-form/?slug=clover-health-investments-corp&id=2582 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email  info@zhanginvestorlaw.com  for information on the class action.

如果您想加入这个集体诉讼案,请在这里提交您的信息。 http://zhanginvestorlaw.com/join-action-form/?slug=clover-health-investments-corp&id=2582

If you wish to serve as lead plaintiff, you must move the Court before the April 6, 2021 DEADLINE.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. 

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: Clover’s was under active investigation by the Department of Justice for at least 12 issues ranging from kickbacks to marketing practices to undisclosed third-party deals; the DOJ’s investigation presented an existential risk to the Company, since it derives most of its revenues from Medicare; Clover’s sales were driven by a major undisclosed related party deal and misleading marketing targeting the elderly, not its purported “best-in-class” technology; a significant portion of Clover sales were by way of an undisclosed relationship between Clover and an outside brokerage firm controlled by Clover’s Head of Sales; and as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

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Lead plaintiff status is not required to seek compensation.  You may retain counsel of your choice.  You may remain an absent class member and take no action at this time.

Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.

Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
info@zhanginvestorlaw.com
tel: (800) 991-3756