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CLOV.US

id: 686

Clover Health Investments (CLOV) $22M Investor Settlement

The settlement funds have been distributed to claimants.

$22,000,000

Cash Settlement

M.D. Tennessee

Court

3:21-cv-00096

Case number

10/06/2020

Class period Start

02/03/2021

Class period End

10/09/2023

Claim deadline

Clover Health Investments settles $22 million with Investors to end claims over concealing DOJ investigation $CLOV faced in the lead-up to its go-public merger with a SPAC.

Case Type

US Securities Class Action

Case Status

Disbursed

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Payout per Share

0.22

Filing date

02/05/2021

Plaintiffs

Firas Jabri, Jean-Nicolas Tremblay

Attorneys

Bramlett Law Offices (Nashville, TN), Pomerantz LLP (New York, NY), The Schall Law Firm (Los Angeles, CA)

Defendants

Vivek Garipalli, Andrew Toy, Joseph Wagner, Chamath Palihapitiya

Judge

Hon. Aleta A. Trauger

Administrator

JND Legal Administration

Settlement agreement date

2023-05-25

Court hearing date

10/02/2023

Exclusion deadline

09/11/2023

Objection deadline

09/11/2023

Hearing deadline

09/11/2023

Trades matching type

FIFO

Disbursement date

08/05/2024

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