INVESTOR ACTION ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against MultiPlan Corporation and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
LOS ANGELES, March 15, 2021 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against MultiPlan Corporation ("MultiPlan" or "the Company") f/k/a Churchill Capital Corp. III ("Churchill III" or the "Company") (NYSE: MPLN) for violations of the securities laws
Investors who purchased the Company's securities between July 12, 2020 and November 10, 2020, inclusive (the ''Class Period''),and all holders of Churchill III Class A common stock entitled to vote on Churchill III's merger with and acquisition of Polaris Parent Corp. and its consolidated subsidiaries (collectively, "MultiPlan") consummated in October 2020 (the "Merger") are encouraged to contact the firm before April 26, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. MultiPlan was losing tens of millions of dollars in sales to NaviGuard, a competitor built by one of its largest customers. NaviGuard threatened 35% of the Company's sales and 80% of its levered cash flows by 2022. The sales decline leading up to the Merger was not caused by "idiosyncratic" customer behaviors, but by deterioration in demand and increased competition. In fact, the Company was set to face continued troubles including deteriorating pricing dynamics following the Merger. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about MultiPlan, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com
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SOURCE The Schall Law Firm
