Lawsuit for Investors in shares of MultiPlan Corporation (NYSE: MPLN) filed

An investor, who purchased shares of MultiPlan Corporation (NYSE: MPLN), filed a lawsuit over alleged Securities Laws violations by MultiPlan Corporation.

Investors who purchased MultiPlan Corporation (NYSE: MPLN) f/k/a Churchill Capital Corp. III securities during the period between July 12, 2020 and November 10, 2020, inclusive and all holders of Churchill Capital Corp III Class A common stock entitled to vote on Churchill Capital Corp l III’s merger with and acquisition of Polaris Parent Corp. and its consolidated subsidiaries, which merger was consummated in October 2020 (the “Merger”), have certain options and for certain investors are short and strict deadlines running. Deadline: April 26, 2021. NYSE: MPLN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

New York based MultiPlan Corporation provides data analytics and technology-enabled cost management solutions to the U.S. healthcare industry.

In July 2020, Churchill III announced that it had entered into a preliminary agreement, subject to shareholder approval, to merge with 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.”

Shares of MultiPlan Corporation (NYSE: MPLN) declined from $9.14 per share on November 6, 2020 to as low as $6.12 per share on November 12, 2020, nearly 40% below the price at which shareholders could have redeemed their shares at the time of the shareholder vote on the Merger.

According to the complaint the plaintiff alleges on behalf of purchasers of MultiPlan Corporation (NYSE: MPLN) common shares between July 12, 2020 and November 10, 2020, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between July 12, 2020 and November 10, 2020, 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 shares of MultiPlan Corporation (NYSE: MPLN) have certain options and should contact the Shareholders Foundation.

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

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.