LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of MultiPlan Corporation (“MultiPlan” or the “Company”) (NYSE: MPLN) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On November 11, 2020, Muddy Waters Research issued a report titled “MultiPlan: Private Equity Necrophilia Meets The Great 2020 Money Grab,” alleging, among other things that MultiPlan is “in financial decline, and its financial statements were engineered to obscure this existing deterioration.” It further stated that the Company “is in the process of losing its largest client, UnitedHealthcare,” which “has formed a competitor to MultiPlan that offers significantly lower prices and fewer conflicts of interest.”
On this news, the Company’s stock price fell $1.72 per share, or approximately 20%, to close at $7.01 per share on November 11, 2020.
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If you purchased MultiPlan securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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