NEW YORK, NY / ACCESSWIRE / November 14, 2020 / Pomerantz LLP is investigating claims on behalf of investors of MultiPlan Corporation ("MultiPlan or the "Company") (NYSE:MPLN). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether MultiPlan and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 11, 2020, Muddy Waters Research ("Muddy Waters") released a report entitled "MultiPlan: Private Equity Necrophilia Meets The Great 2020 Money Grab." Among other issues, the Muddy Waters report asserted that Multiplan is "in financial decline, and its financial statements were engineered to obscure this existing deterioration" and that the Company "is in the process of losing its largest client, UnitedHealthcare (‘UHC')," which "has formed a competitor to MultiPlan that offers significantly lower prices and fewer conflicts of interest."
On this news, Multiplan's stock price fell $1.72 per share, or 19.7%, to close at $7.01 per share on November 11, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP