Press release
Investigation announced for Investors in shares of Cano Health, Inc. (NYSE: CANO)
An investigation for investors in Cano Health, Inc. (NYSE: CANO) shares over potential securities laws violations by Cano Health.
Investors who purchased shares of Cano Health, Inc. (NYSE: CANO), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Cano Health, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Miami, FL based Cano Health, Inc. provides primary care medical services to its members in the United States and Puerto Rico. Cano Health, Inc. reported that its annual Total Revenue rose from $831.57 million in 2020 to over $1.6 billion in 2021, and that its Net Loss declined from $71.06 million in 2020 to$18.02 million in 2021.
On February 28, 2021, Cano Health, Inc. disclosed that "the Company and its independent auditor, Ernst & Young LLP, identified certain potential non-cash adjustments to account for revenue recognition under accounting standard ASC 606. The adjustments relate to how and when the Company accrues revenue related to Medicare Risk Adjustments". Cano Health, Inc. stated that "it will delay its fourth-quarter and full-year 2021 earnings release, conference call and 2022 guidance updates, previously scheduled for Monday, February 28, 2022".
Shares of Cano Health, Inc. (NYSE: CANO) declined from $7.05 per share on February 15, 2022, to as low as $4.44 per share on February 28, 2022.
Those who purchased shares of Cano Health, Inc. (NYSE: CANO) 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.
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