The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of MPLN, ACAD and WPG
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The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of MPLN, ACAD and WPG

Thursday, June 3, 2021 1:15 PM
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NEW YORK, NY / ACCESSWIRE / June 3, 2021 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.

Multiplan Corporation F/K/A Churchill Capital Corp. Iii (NYSE:MPLN)
Class Period: July 12, 2020 - November 10, 2020
Lead Plaintiff Deadline: June 7, 2021

The complaint alleges that during the class period Multiplan Corporation F/K/A Churchill Capital Corp. Iii made materially false and/or misleading statements and/or failed to disclose that: (a) MultiPlan was losing tens of millions of dollars in sales and revenues to Naviguard, a competitor created by one of MultiPlan's largest customers, UnitedHealthcare, which threatened up to 35% of the Company's sales and 80% of its levered cash flows by 2022; (b) sales and revenue declines in the quarters leading up to the Merger were not due to "idiosyncratic" customer behaviors as represented, but rather due to a fundamental deterioration in demand for MultiPlan's services and increased competition, as payors developed competing services and sought alternatives to eliminating excessive healthcare costs; (c) MultiPlan was facing significant pricing pressures for its services and had been forced to materially reduce its take rate in the lead up to the Merger by insurers, who had expressed dissatisfaction with the price and quality of MultiPlan's services and balanced billing practices, causing the Company's to cut its take rate by up to half in some cases; (d) as a result of (a)-(c) above, MultiPlan was set to continue to suffer from revenues and earnings declines, increased competition and deteriorating pricing dynamics following the Merger; (e) as a result of (a)-(d) above, MultiPlan was forced to seek continued revenue growth and to improve its competitive positioning through pricey acquisitions, including through the purchase of HST for $140 million at a premium price from a former MultiPlan executive only one month after the Merger; and (f) as a result of (a)-(e) above, Churchill III investors had grossly overpaid for the acquisition of MultiPlan in the Merger, and MultiPlan's business was worth far less than represented to investors.

Learn about your recoverable losses in MPLN: http://www.kleinstocklaw.com/pslra-1/multiplan-corporation-f-k-a-churchill-capital-corp-iii-loss-submission-form?id=16524&from=1

Acadia Pharmaceuticals Inc. (NASDAQ:ACAD)
Class Period: June 15, 2020 - April 4, 2021
Lead Plaintiff Deadline: June 18, 2021

The complaint alleges Acadia Pharmaceuticals Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the materials submitted in support of the pimavanserin supplemental new drug application (sDNA) contained statistical and design deficiencies; (ii) accordingly, the pimavanserin sNDA lacked the evidentiary support that the Company had led investors to believe it possessed; (iii) the Food and Drug Administration Agency was unlikely to approve the pimavanserin sNDA in its present form; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

Learn about your recoverable losses in ACAD: http://www.kleinstocklaw.com/pslra-1/acadia-pharmaceuticals-inc-loss-submission-form?id=16524&from=1

Washington Prime Group, Inc. (NYSE:WPG)
Class Period: November 5, 2020 - March 4, 2021
Lead Plaintiff Deadline: July 23, 2021

The complaint alleges that during the class period Washington Prime Group, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) WPG's financial condition was deteriorating substantially; (2) as a result, there was substantial uncertainty about the Company's ability to meet its capital structure obligations as they became due; and (3) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Learn about your recoverable losses in WPG: https://www.kleinstocklaw.com/pslra-1/washington-prime-group-inc-loss-submission-form?id=16524&from=1

Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.

J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
[email protected]
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com

SOURCE: The Klein Law Firm

The Klein Law Firm
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