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NYSE: MPLN Shareholder Notice: Update in Lawsuit against MultiPlan Corporation announced by Shareholders Foundation

Shareholders Foundation, Inc.
·2-min read

SAN DIEGO, May 11, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that an update in the lawsuit for certain investors in MultiPlan Corporation (NYSE: MPLN) shares against MultiPlan Corporation, formerly known as Churchill Capital Corp. III ("Churchill III").

Investors, who purchased shares of MultiPlan Corporation (NYSE: MPLN) in July 2020 and continue to hold NYSE: MPLN shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Churchill III was formed in October 2019 as a special purpose acquisition vehicle, and on July 12, 2020, announced that it would combine with privately held MultiPlan Corporation.

On November 11, 2020, a report was published entitled “MultiPlan: Private Equity Necrophilia Meets The Great 2020 Money Grab[.]” The report described a series of issues involving MultiPlan Corporation 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 February 24, 2019 and on March 5, 2021 lawsuits were filed against MultiPlan Corporation over alleged securities laws violations. On March 15, 2021 respectively March 24, 2021those lawsuits were voluntarily dismissed.

On April 6, 2021, another lawsuit was filed against MultiPlan Corporation over alleged securities laws violations. The plaintiff in that lawsuit claims that the defendants made materially false and misleading statements in connection with the Merger and between July 12, 2020 and November 10, 2020 regarding the business, operation, and prospects of MultiPlan.

Those who purchased MultiPlan Corporation (NYSE: MPLN) shares should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.