U.S. markets closed

  • S&P 500

    3,901.36
    +0.57 (+0.01%)
     

  • Dow 30

    31,261.90
    +8.77 (+0.03%)
     

  • Nasdaq

    11,354.62
    -33.88 (-0.30%)
     

  • Russell 2000

    1,773.27
    -2.96 (-0.17%)
     

  • Crude Oil

    110.35
    +0.46 (+0.42%)
     

  • Gold

    1,845.10
    +3.90 (+0.21%)
     

  • Silver

    21.87
    -0.03 (-0.13%)
     

  • EUR/USD

    1.0562
    -0.0026 (-0.24%)
     

  • 10-Yr Bond

    2.7870
    -0.0680 (-2.38%)
     

  • GBP/USD

    1.2496
    +0.0021 (+0.17%)
     

  • USD/JPY

    127.8500
    +0.0560 (+0.04%)
     

  • BTC-USD

    29,376.92
    -947.64 (-3.12%)
     

  • CMC Crypto 200

    650.34
    -23.03 (-3.42%)
     

  • FTSE 100

    7,389.98
    +87.24 (+1.19%)
     

  • Nikkei 225

    26,739.03
    +336.19 (+1.27%)
     

CLASS ACTION UPDATE for MPLN, XL and CAN: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·5 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • CAN
  • XL
  • MPLN

NEW YORK, NY / ACCESSWIRE / April 21, 2021 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

MPLN Shareholders Click Here: https://www.zlk.com/pslra-1/multiplan-corporation-f-k-a-churchill-capital-corp-iii-loss-information-form?prid=14977&wire=1
XL Shareholders Click Here: https://www.zlk.com/pslra-1/xl-fleet-corp-loss-submission-form?prid=14977&wire=1
CAN Shareholders Click Here: https://www.zlk.com/pslra-1/canaan-inc-loss-submission-form?prid=14977&wire=1

* ADDITIONAL INFORMATION BELOW *

Multiplan Corporation F/K/A Churchill Capital Corp. Iii (NYSE:MPLN)

MPLN Lawsuit on behalf of: investors who purchased July 12, 2020 - November 10, 2020
Lead Plaintiff Deadline: June 7, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/multiplan-corporation-f-k-a-churchill-capital-corp-iii-loss-information-form?prid=14977&wire=1

According to the filed complaint, during the class period, Multiplan Corporation F/K/A Churchill Capital Corp. Iii made materially false and/or misleading statements and/or failed to disclose that: (a) MultiPlan was losing tens of millions of dollars in sales and revenues to Naviguard, a competitor created by one of MultiPlan's largest customers, UnitedHealthcare, which threatened up to 35% of the Company's sales and 80% of its levered cash flows by 2022; (b) sales and revenue declines in the quarters leading up to the Merger were not due to "idiosyncratic" customer behaviors as represented, but rather due to a fundamental deterioration in demand for MultiPlan's services and increased competition, as payors developed competing services and sought alternatives to eliminating excessive healthcare costs; (c) MultiPlan was facing significant pricing pressures for its services and had been forced to materially reduce its take rate in the lead up to the Merger by insurers, who had expressed dissatisfaction with the price and quality of MultiPlan's services and balanced billing practices, causing the Company's to cut its take rate by up to half in some cases; (d) as a result of (a)-(c) above, MultiPlan was set to continue to suffer from revenues and earnings declines, increased competition and deteriorating pricing dynamics following the Merger; (e) as a result of (a)-(d) above, MultiPlan was forced to seek continued revenue growth and to improve its competitive positioning through pricey acquisitions, including through the purchase of HST for $140 million at a premium price from a former MultiPlan executive only one month after the Merger; and (f) as a result of (a)-(e) above, Churchill III investors had grossly overpaid for the acquisition of MultiPlan in the Merger, and MultiPlan's business was worth far less than represented to investors.

XL Fleet Corp. (NYSE:XL)

XL Lawsuit on behalf of: investors who purchased October 2, 2020 - March 2, 2021
Lead Plaintiff Deadline: May 7, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/xl-fleet-corp-loss-submission-form?prid=14977&wire=1

According to the filed complaint, during the class period, XL Fleet Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) XL Fleet's salespeople were pressured to inflate their sales pipelines to boost the Company's reported sales and backlog; (2) at least 18 of the 33 customers that XL featured were inactive and had not placed an order since 2019; (3) XL's technology had been materially overstated and offered only 5% to 10% of fleet savings; (4) XL lacks the supply chain and engineers to roll out new products on the announced timelines; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Canaan Inc. (NASDAQ:CAN)

CAN Lawsuit on behalf of: investors who purchased February 10, 2021 - April 9, 2021
Lead Plaintiff Deadline: June 14, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/canaan-inc-loss-submission-form?prid=14977&wire=1

According to the filed complaint, during the class period, Canaan Inc. made materially false and/or misleading statements and/or failed to disclose that: they concealed that due to ongoing supply chain disruptions and the introduction of the Company's next-generation A12 series bitcoin mining machines - which had cannibalized sales of the older product offerings - Canaan's 4Q20 sales had declined more than 93% year-over-year compared to its fourth quarter fiscal year 2019 ("4Q19") sales and more than 93% quarter-over-quarter compared to its third quarter FY20 ("3Q20") sales.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://www.zlk.com

SOURCE: Levi & Korsinsky, LLP



View source version on accesswire.com:
https://www.accesswire.com/641594/CLASS-ACTION-UPDATE-for-MPLN-XL-and-CAN-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders

Recommended Stories

  • Why I'm Not Worried About the Stock Market Crash

    It's important to remember that as we watch the stock market crash and our personal net worth take a big hit. While that has certainly happened, it's important to note that the stock market isn't the economy.

  • Why Tesla Stock Was Slammed on Friday

    Shares of Tesla (NASDAQ: TSLA) sank on Friday, declining as much as 10.8% at one point during the trading day. The electric-car maker stock's beating was likely driven primarily by a tough day in the market for many stocks -- particularly for growth stocks like Tesla. The stock's downward trend has largely been tied to investors' skittishness toward highly valued growth stocks.

  • Tesla Loses Top Spot in Cathie Wood’s Flagship Fund. This Stock Is the New No. 1.

    Cathie Wood is a long-time Tesla bull, but the stock isn't the largest holding in Wood's ARK Innovation ETF anymore.

  • Billionaire Ray Dalio Pulls the Trigger on These 2 ‘Strong Buy’ Stocks

    When legends speak, people listen – and few investors match the legendary status of Ray Dalio. The founder of Bridgewater Associates has built his firm from a 2-room apartment operation into the world’s largest hedge fund, with more than $150 billion in assets under management, and a net gain exceeding $46 billion. Dalio believes that the next two to four years will see our global economic and political systems change in ways that are unpredictable now. And the key to survival, for investors, ma

  • The odds of a home price correction just spiked—this interactive chart shows if your local housing market is at risk

    Over the past month, the odds of a home price correction spiked. That's according to an analysis CoreLogic ran for Fortune this week.

  • Dow Jones Up As S&P 500 Fights Off Bear Market; Tesla Plunges Amid Elon Musk Reports; 2 Stocks Look Bullish

    The Dow Jones reversed higher while the S&P 500 battled out of bear market territory. Tesla stock dived amid reports about CEO Elon Musk.

  • It May Be a Bear Market, But It’s Not a Panic. That’s Worrisome

    (Bloomberg) -- It’s been hard to watch, impossible to predict and a nightmare to trade. But has the S&P 500’s slide been an unqualified panic to date? By some measures no, and that might bode poorly for equities in the near term. Most Read from BloombergOne of the World’s Frothiest Housing Markets Turned Into a Seller’s Headache OvernightElon Musk Gets Defensive Over Twitter Meme as Harassment Report SurfacesStocks Avert Bear Market, Slide for Seventh Week: Markets WrapRuble Hits 5-Year High as

  • The most advanced treatments for monkeypox were developed to address the wrong threat

    The markets may be in free fall, but a few biotechnology companies had an exceptionally good day. Siga’s stock is up more than 40%; Emergent Biosolutions’s gained nearly 12%, and Tonix Pharmaceuticals, 15%. A few cases of monkeypox have been registered in Europe and North America, far from West and Central Africa where outbreaks typically emerge.

  • 10 Best Buy-the-Dip Tech Stocks According to Billionaire Ken Fisher

    In this article, we discuss 10 buy-the-dip stocks to buy according to billionaire Ken Fisher. If you want to skip our detailed analysis of Fisher’s stock selection and the current sell-off in tech, go directly to 5 Best Buy-the-Dip Tech Stocks According to Billionaire Ken Fisher. The tech-heavy Nasdaq Composite is down 27% in 2022 […]

  • 5 Stocks Warren Buffett Bought Hand Over Fist as the Nasdaq Plunged

    When Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO Warren Buffett buys or sells shares of a company, Wall Street and investors tend to pay close attention. Since becoming CEO in 1965, he's overseen the creation of more than $680 billion in shareholder value and delivered an average annual return of 20.1% for Berkshire's Class A (BRK.A) shareholders (himself included).

  • Dow Jones Futures: Market Correction Getting Worse, Tesla Breaks Down; What You Must Do Now

    Another week of big losses as Wall Street adjusts to a "hard" reality. Tesla broke decisively, but it wasn't alone.

  • Yes, Nvidia Stock is Expensive — But Oppenheimer Says It’s Worth the Price

    In less than week -- Wednesday, May 25 -- Nvidia (NVDA) is due to report its Q1 2022 earnings. Analysts on average are optimistic about the report itself, and also about the guidance Nvidia might give, predicting Nvidia will report 43% growth to $1.30 per share this quarter, and promise investors another 31% worth of growth ($1.36 per share) next quarter. And one analyst thinks Nvidia could do even better than that. Previewing next Wednesday's earnings report, Oppenheimer's Rick Schafer reiterat

  • The Market Is Melting Down and People Are Feeling It. ‘My Stomach Is Churning All Day’

    Many are watching the investments they meant for down payments, tuition or retirement shrink day after day.

  • Which Top-Performing Dividend Stocks Look Most Attractive?

    High-yield dividend stocks have been viewed more favorably than high-multiple growth stocks these days. After yet another month of excessive market-wide selling, the yields of many top dividend stocks are slightly richer. As the Fed raises interest rates further, growth and value could continue to get slammed. This week, the Fed signaled that it's more than willing to keep the rate hikes coming until inflation backs down, even if it means jeopardizing a "soft landing" and inflicting more pain in

  • Athersys-Partnered Japanese Ischemic Stroke Study Disappoints, Shares Plunge

    Athersys Inc's (NASDAQ: ATHX) partner, Healios K.K. has reported topline results for its Japan ischemic stroke study, TREASURE. The study included patients with moderate to moderate-severe ischemic stroke administered a single dose of MultiStem cells (invimestrocel) or placebo by intravenous infusion within 18-36 hours of the event. The primary endpoint, Excellent Outcome at 90 days, did not reach statistical significance in this population. Overall, consistent improvement in essentially all mea

  • A bear-market rally could be lurking, but investors should ‘sell any rips,’ says Bank of America

    Bank of America strategists advise investors keep buying any bounces higher for the stock market, as capitulation isn't quite here yet.

  • Why Pfizer Stock Is Rising Today While Moderna and Novavax Are Sliding

    Shares of Pfizer (NYSE: PFE) were up 2.5% as of 11:35 a.m. ET on Friday after jumping as much as 4% earlier in the day. Meanwhile, the stocks of two other COVID-19 vaccine makers were declining. Moderna's (NASDAQ: MRNA) shares were down 4.7%.

  • Why Ford Stock Got Crushed by the Market Today

    What happened The ride in Ford (NYSE: F) stock wasn't very smooth on Friday. The big American carmaker saw its shares decline by nearly 3% on a day when the S&P 500 index essentially traded sideways. A ruling from a court overseas was the key catalyst in that deceleration.

  • Hit the Buy Button on These 3 Oversold Stocks, Say Analysts

    Rising interest rates, supply chain constraints and Russia’s invasion of Ukraine are all issues currently plaguing the macro climate. The problem with all three, says Tony Dwyer, Canaccord Chief Market Strategist, is that for each problem there’s “no easy exit strategy.” The tough conditions are likely to persist, then. However, on the plus side, while these issues have sent most corners of the stock market into a tailspin, now investors are presented with stocks for which the term “oversold” re

  • Ruble Hits 5-Year High as Gas Buyers Bend to Putin’s Will

    (Bloomberg) -- The ruble closed at the highest level in five years against the euro as more European companies appeared to be complying with Vladimir Putin’s demand that they switch to paying in Russia’s currency for natural gas.Most Read from BloombergOne of the World’s Frothiest Housing Markets Turned Into a Seller’s Headache OvernightElon Musk Gets Defensive Over Twitter Meme as Harassment Report SurfacesStocks Avert Bear Market, Slide for Seventh Week: Markets WrapRuble Hits 5-Year High as G