NEW YORK, NY / ACCESSWIRE / June 7, 2021 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. There will be no obligation or cost to you.
Multiplan Corporation F/K/A Churchill Capital Corp. Iii (NYSE:MPLN)
If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/multiplan-corporation-f-k-a-churchill-capital-corp-iii-loss-submission-form?prid=16617&wire=1
Lead Plaintiff Deadline: June 7, 2021
Class Period: July 12, 2020 - November 10, 2020
Allegations against MPLN include 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.
Danimer Scientific, Inc. (NYSE:DNMR)
If you suffered a loss, contact us at: https://www.wongesq.com/pslra-1/danimer-scientific-inc-loss-submission-form?prid=16617&wire=1
Lead Plaintiff Deadline: July 13, 2021
Class Period: October 5, 2020 - May 4, 2021
Allegations against DNMR include that: (i) Danimer had deficient internal controls; (ii) as a result, the Company had misrepresented, inter alia, its operations' size and regulatory compliance; (iii) Defendants had overstated Nodax's biodegradability, particularly in oceans and landfills; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
Frequency Therapeutics, Inc. (NASDAQ:FREQ)
If you suffered a loss, contact us at: https://www.wongesq.com/pslra-1/frequency-therapeutics-inc-loss-submission-form?prid=16617&wire=1
Lead Plaintiff Deadline: August 2, 2021
Class Period: November 16, 2020 - March 22, 2021
Allegations against FREQ include that: the Company's Phase 2a trial results failed to live up to the Company's expectations as the results revealed no discernable difference between FX-322 and the placebo. In spite of the disappointing results, the Company continued to conduct the Phase 2a study while releasing positive statements in earnings calls, press releases, SEC filings, and pharmaceutical presentations about FX-322's potential. These statements materially misled the market and artificially inflated the value of Frequency's common stock.
To learn more contact Vincent Wong, Esq. either via email [email protected] or by telephone at 212.425.1140.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: [email protected]
SOURCE: The Law Offices of Vincent Wong