Lawsuit filed for Investors in shares of Clarivate Plc (NYSE: CLVT)

An investor, who purchased shares of Clarivate Plc (NYSE: CLVT), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Clarivate Plc in connection with certain allegedly false and misleading statements made.

Investors who purchased a significant amount of shares of Clarivate Plc (NYSE: CLVT) between February 26, 2021 and December 27, 2021, have certain options and for certain investors are short and strict deadlines running. Deadline: March 25, 2022. NYSE: CLVT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

London based Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. Clarivate Plc reported that its annual Total Revenue rose from $974.34 million in 2019 to over $1.25 billion in 2020, and that its Net Loss declined from $210.97 million in 2019 to $106.31 million in 2020.

On December 27, 2021, Clarivate Plc disclosed in a filing with the U.S. Securities and Exchange Commission that “[o]n December 22, 2021, Clarivate . . . concluded that the financial statements previously issued as of and for the year ended December 31, 2020, and the quarterly periods ended March 31, 2021, June 30, 2021, and September 30, 2021, should no longer be relied upon because of an error in such financial statements[.]” Specifically, Clarivate reported that “[t]he error relates to the treatment under U.S. generally accepted accounting principles (‘GAAP’) relating to an equity plan included in the CPA Global business combination which was consummated on October 1, 2020 (‘the CPA Global Transaction’). In the affected financial statements, certain awards made by CPA Global under its equity plan were incorrectly included as part of the acquisition accounting for the CPA Global Transaction.”

Shares of Clarivate Plc (NYSE: CLVT) declined from $25.42 per share in early December 2021, to $16.19 per share on January 19, 2022.

The plaintiff claims that between February 26, 2021 and December 27, 2021, the Defendants made false and/or misleading statements and/or failed to disclose that Clarivate maintained defective disclosure controls and procedures as a result of a material weakness in its internal control over financial reporting, that the foregoing material weakness was not limited to how the Company accounted for warrants, that as a result, Clarivate failed to properly account for an equity plan included in its acquisition of CPA Global, that accordingly, the Company was reasonably likely to restate one or more of its previously issued financial statements following its acquisition of CPA Global, and that as a result, the Company’s public statements were materially false and misleading at all relevant times.

Those who purchased shares of Clarivate Plc (NYSE: CLVT) have certain options and should contact the Shareholders Foundation.

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 lawsuits, 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.