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Submit Your Information for the Sharecare Lawsuit
If you purchased or acquired Sharecare securities between May 10, 2023 and March 28, 2024, please contact Berger Montague using the form below.
About the Lawsuit
According to the complaint, throughout the Class Period, Sharecare made materially false and/or misleading statements and/or failed to disclose that: (1) Sharecare lacked adequate internal controls and; (2) as a result, the defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all times.
The truth was disclosed on March 29, 2024, when Sharecare filed with the SEC its annual report on a Form 10-K for the 2023 fiscal year. In this annual report, Sharecare disclosed that it had identified a material weakness in its internal control over financial reporting, and that “[a]s of December 31, 2023, the Company did not maintain adequate internal controls with respect to its revenue recognition evaluation resulting from a change in services provided to a customer, due to untimely communication between cross-functional teams.”
On this news, the price of Sharecare stock declined by $0.21 per share, or 28.28%, to close at $0.55 on April 1, 2024.
Investors who purchased or acquired Sharecare securities between May 10, 2023 and March 28, 2024, may no later than June 18, 2024, seek to be appointed as a lead plaintiff representative of the class.
Berger Montague Counsel
Andrew Abramowitz, Esq.
25%
aabramowitz@bm.net
(215) 875-3015
bergermontague.com
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James Maro, Esq.
25%
jmaro@bm.net
(215) 875-3093
bergermontague.com
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