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The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of APA, MPLN and CAN

NEW YORK, NY / ACCESSWIRE / April 21, 2021 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.

Apache Corporation (NASDAQ:APA)
Class Period: September 7, 2016 - March 13, 2020
Lead Plaintiff Deadline: April 26, 2021

The APA lawsuit alleges that throughout the class period, Apache Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) Apache intentionally used unrealistic assumptions regarding the amount and composition of available oil and gas in Alpine High; (ii) Apache did not have the proper infrastructure in place to safely and/or economically drill and/or transport those resources even if they existed in the amounts purported; (iii) these misleading statements and omissions artificially inflated the value of the Company's operations in the Permian Basin; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

Learn about your recoverable losses in APA: http://www.kleinstocklaw.com/pslra-1/apache-corporation-loss-submission-form?id=14967&from=1

Multiplan Corporation F/K/A Churchill Capital Corp. Iii (NYSE:MPLN)
Class Period: July 12, 2020 - November 10, 2020
Lead Plaintiff Deadline: June 7, 2021

According to the complaint, Multiplan Corporation F/K/A Churchill Capital Corp. Iii allegedly 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.

Learn about your recoverable losses in MPLN: http://www.kleinstocklaw.com/pslra-1/multiplan-corporation-f-k-a-churchill-capital-corp-iii-loss-submission-form?id=14967&from=1

Canaan Inc. (NASDAQ:CAN)
Class Period: February 10, 2021 - April 9, 2021
Lead Plaintiff Deadline: June 14, 2021

The complaint alleges that throughout 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.

Learn about your recoverable losses in CAN: http://www.kleinstocklaw.com/pslra-1/canaan-inc-loss-submission-form-2?id=14967&from=1

Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.

J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com

SOURCE: The Klein Law Firm



View source version on accesswire.com:
https://www.accesswire.com/641536/The-Klein-Law-Firm-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders-of-APA-MPLN-and-CAN

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