LAWSUITS FILED AGAINST IRTC, MPLN and IQDNX - Jakubowitz Law Pursues Shareholders Claims
NEW YORK, NY / ACCESSWIRE / March 3, 2021 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.
iRhythm Technologies, Inc. (NASDAQ:IRTC)
CONTACT JAKUBOWITZ ABOUT IRTC:
https://claimyourloss.com/securities/irhythm-technologies-inc-loss-submission-form/?id=13274&from=1
Class Period : August 4, 2020 - January 28, 2021
Lead Plaintiff Deadline : April 2, 2021
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) iRhythm's business would suffer as a result of the CMS' rulemaking; (2) reimbursement rates would in fact plummet; (3) a lack of national pricing in the CMS rule and fee schedule would cause uncertainty and weakness in the Company's business; and (4) as a result of the foregoing, Defendants' public statements were materially false and misleading at all relevant times
Multiplan Corporation F/K/A Churchill Capital Corp. Iii (NYSE:MPLN)
CONTACT JAKUBOWITZ ABOUT MPLN:
https://claimyourloss.com/securities/multiplan-corporation-f-k-a-churchill-capital-corp-iii-loss-submission-form/?id=13274&from=1
Class Period : July 12, 2020 - November 10, 2020
Lead Plaintiff Deadline : April 26, 2021
The filed complaint alleges that defendants 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.
Infinity Q Diversified Alpha Fund Institutional Class (NASDAQ:IQDNX)
CONTACT JAKUBOWITZ ABOUT IQDNX:
https://claimyourloss.com/securities/infinity-q-diversified-alpha-fund-loss-submission-form/?id=13274&from=1
Class Period : December 21, 2018 - February 22, 2021
Lead Plaintiff Deadline : April 27, 2021
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Infinity Q's Chief Investment Officer made adjustments to certain parameters within the third-party pricing model that affected the valuation of the swaps held by the Fund; (2) consequently, Infinity Q would not be able to calculate NAV correctly; (3) as a result, the previously reported NAVs were unreliable; (4) because of the foregoing, the Fund would halt redemptions and liquidate its assets; and (5) as a result, the Prospectuses were materially false and/or misleading and failed to state information required to be stated therein.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
SOURCE: Jakubowitz Law
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https://www.accesswire.com/633320/LAWSUITS-FILED-AGAINST-IRTC-MPLN-and-IQDNX--Jakubowitz-Law-Pursues-Shareholders-Claims
