Press release
Lawsuit filed for Investors who lost money with shares of Sharecare, Inc. (NASDAQ: SHCR)
A lawsuit was filed on behalf of investors in Sharecare, Inc. (NASDAQ: SHCR) shares over alleged securities laws violations.
Investors who purchased shares of Sharecare, Inc. (NASDAQ: SHCR) have certain options and for certain investors are short and strict deadlines running. Deadline: June 18, 2024. NASDAQ: SHCR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Atlanta, GA based Sharecare, Inc. operates as a digital healthcare platform company. On March 29, 2024, Sharecare, Inc. formally announced the detection of a significant flaw within its internal control over financial reporting. The company acknowledged that it had failed to uphold sufficient internal controls pertaining to its revenue recognition evaluation. This lapse was due to a shift in services provided to a client and was precipitated by delayed communication across different functional teams. This control deficiency led to a pre-filing adjustment concerning revenue recognition for the said contract in the Company's consolidated financial statements for the fiscal year ending December 31, 2023.
Shares of Sharecare, Inc. (NASDAQ: SHCR) declined to $0.481 per share on April 01, 2024.
The plaintiff claims that between May 10, 2023 and March 28, 2024, the defendants made materially false and/or misleading statements and/or failed to disclose that Sharecare lacked adequate internal controls, and that as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.
Those who purchased shares of Sharecare, Inc. (NASDAQ: SHCR) 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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