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Investors with a loss of more than US$720 are encouraged to contact the company before June 7, 2021; click Here Submit trade information
Los Angeles, June 6, 2021 (Global News Agency)- Portnor Law Firm Inform investors that they have represented MultiPlan Corporation (NYSE:MPLN) Investors who purchased stocks between July 12, 2020 and November 10, 2020. June 7, 2021 Seek to play an active role in this lawsuit.
Encourage investors to contact a lawyer Leslie F. Portnoy, To determine eligibility for this action, please call 310-692-8883 or e-mail, Or click here Join the case.
In this complaint, MultiPlan made misleading and/or false statements and/or failed to disclose the following: (1) MultiPlan lost tens of millions of dollars in revenue and sales due to Naviguard, a competition created by one of the following companies UnitedHealthcare, the largest customer of rival MultiPlan, threatens MultiPlan’s sales of up to 35% and 80% of leveraged cash flow by 2022; (2) The decline in revenue and sales in the first few quarters of the merger is not due to the “special” represented by MultiPlan Customer behavior, but due to the development of payers, the intensified competition and the fundamental deterioration in the demand for MultiPlan services, which seek alternative solutions to eliminate excessive medical expenses; (3) MultiPlan services are facing huge pricing pressure and are merging In the previous period of time, it was forced to significantly reduce its acceptance rate. Insurance companies expressed dissatisfaction with MultiPlan’s balanced billing practices and the quality and price of services, which led to MultiPlan reducing its occupancy rate by half in some cases; (4) Therefore, MultiPlan will continue to suffer the effects of reduced revenue and revenue, increased competition, and deteriorating price dynamics for a period of time after the merger; (5) MultiPlan will be forced to seek sustained revenue growth and improve its competitive position through expensive acquisitions. Including the acquisition of the healthcare technology company HST from a former MultiPlan executive at a high price of US$140 million only one month after the completion of the acquisition. The merger, therefore; (6) Therefore, investors paid a serious price for the acquisition of MultiPlan in the merger, and the business value of MultiPlan is far lower than the value represented by the investors.
A class action has been filed.If you wish to be the lead plaintiff, you must June 7, 2021.
Please visit our website View more information and submit your transaction information.
Portnoy Law Firm filed claims arising from corporate misconduct on behalf of investors. The company’s founding partners have recovered more than $5.5 billion for victims of investors. Lawyer advertisement. The previous results do not guarantee similar results.
Lesley F. Portnoy, Esq.
Admitted to the California and New York Bar Association
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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