SAN FRANCISCO, April 17, 2023 (GLOBE NEWSWIRE) -- Hagens Berman urges long-term holders of Cano Health, Inc. (NYSE: CANO) to contact the firm now.
| Visit: www.hbsslaw.com/investor-fraud/CANO | |
| Contact An Attorney Now: | CANO@hbsslaw.com |
| 844-916-0895 | |
Cano Health, Inc. (CANO) Investigation:
Hagens Berman is investigating whether Cano’s directors may have breached their fiduciary duties owed to the company.
On Mar. 31, 2023, an early Cano investor and board member (Barry Sternlicht) issued a statement announcing his resignation from Cano’s board effective immediately.
Mr. Sternlicht highlighted several issues supporting his decision, including: (1) “[t]he directors who have voiced serious concerns about the status quo have much more at stake in the Company, respectively, than other members of the Board who appear willing to support the CEO at any cost;” (2) “I remain extremely troubled by the poor operating decisions and performance, by what I consider the opacity and obfuscation of information furnished to the Board;” and (3) “[t]he number and nature of related party transactions […] is highly concerning to me as it should be to the rest of the Board.”
Concluding, Mr. Sternlicht observed “I have never witnessed such poor corporate governance at any company, let alone a public company, and I have been involved in at least nine and served as Chairman or CEO of six.”
“We’re focused on damage inflicted on Cano and whether its directors may have breached their duties of loyalty owed to the company,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you are a long-term holder of Cano Health shares, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Cano Health should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email CANO@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
