Rosen Law Firm said it is investigating potential securities claims on behalf of shareholders of MultiPlan, “resulting from allegations that MultiPlan may have issued materially misleading business information to the investing public.”
Churchill III merged with MultiPlan to take the company public.
Muddy Waters Research on Nov. 11 published a report titled “MultiPlan: Private Equity Necrophilia Meets The Great 2020 Money Grab,” alleging a series of issues involving MultiPlan including that “MPLN is in the process of losing its largest client, UnitedHealthcare (‘UHC’). UHC has formed a competitor to MPLN that offers significantly lower prices and fewer conflicts of interest.”
On this news, MultiPlan’s stock price fell $2.46 per share, or 28%, over the next two trading days to close at $6.27 per share Nov 12.
Rosen said it is preparing a securities lawsuit on behalf of MultiPlan shareholders. Read more.
Separately, the Pomerantz law firm said it, too, is investigating the MultiPlan deal. Read more.
