NEW YORK, April 16, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Sharecare, Inc. (“Sharecare” or the “Company”) (NASDAQ: SHCR). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Sharecare and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On March 29, 2024, Sharecare filed its annual report for 2023 with the U.S. Securities and Exchange Commission. Therein, the Company disclosed that it had “identified a material weakness in [its] internal control over financial reporting” with regard “to its revenue recognition evaluation resulting from a change in services provided to a customer, due to untimely communication between cross-functional teams.” Accordingly, Sharecare reported that its disclosure controls and procedures and internal control over financial reporting were not effective as of December 31, 2023.
On this news, Sharecare’s stock price fell $0.218 per share, or 28.39%, to close at $0.55 per share on April 1, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
