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Federman & Sherwood Investigates Clover Health Investments, Corp. For Possible Violations of Federal Securities Laws

If you purchased Clover Health Investments, Corp. shares prior to February 4, 2021, and wish to join this litigation as a potential lead plaintiff, please complete the following Investor Certification


    Plaintiff Certifies That:

    The following information is true and correct to the best of my knowledge, information and belief:

    1. I have reviewed the Complaint in this action and authorize the filing of this Certification as an exhibit to the Complaint, or any substantively similar complaint or amended complaint to be filed in the future. I retain the law office of Federman & Sherwood, and any other counsel with whom Federman & Sherwood deems appropriate to associate with, to pursue this action on my behalf on a contingency fee basis.

    2. If chosen, I am willing to serve as a representative party on behalf of the class (the “Class”), either individually or as part of a group on behalf of the Class as defined in the Complaint, including providing testimony at deposition or trial (if necessary). I am also willing to participate on an executive committee of shareholders.

    3. I made the following transaction(s) during the Class Period in Clover Health Investments, Corp. [NASDAQ: CLOV] securities (which are the subject of this action) as follows:


    4. I did not purchase these securities at the direction of my attorney or in order to participate in a lawsuit under the Securities Act of 1933 or the Securities Exchange Act of 1934.

    5. During the 3-year period preceding the date of this Certification, I have not sought to serve, nor have I served, as a representative to any party or on behalf of any class in any action arising under the Securities Act of 1933 or the Securities Exchange Act of 1934.

    6. I will not accept any payment if chosen to serve as a representative party on behalf of the Class beyond my pro rata share of an award to the Class, or as otherwise ordered and approved by the Court, except for such reasonable costs and expenses directly relating to my service as a representative of the Class and as ordered and approved by the Court.












    By clicking on the button below, I intend to sign and execute this agreement and retain Federman & Sherwood to proceed on Plaintiff’s behalf on a contingency basis.

    The law firm of Federman & Sherwood has initiated an investigation into Clover Health Investments, Corp. [NASDAQ:  CLOV] (“CLOV”) with respect to possible violations of federal securities laws.

    On January 7, 2021, Clover merged with SPAC Social Capital Hedosphia Holdings Corp. III and began to trade under the symbol CLOV.  On February 4, 2021, Hindenburg Research published a report about CLOV titled “Clover Health: How the “King of SPACs” Lured Retail Investors Into a Broken Business Facing an Active, Undisclosed DOJ Investigation.”  The report alleged that Clover “has not disclosed that its business model and its software offering, called the Clover Assistant, are under active investigation by the Department of Justice (DOJ), which is investigating at least 12 issues ranging from kickbacks to marketing practices to undisclosed third-party deals[.]” The report further noted that “multiple former [Clover] employees explained that much of Clover’s sales are fueled by a major undisclosed relationship between Clover and an outside brokerage firm controlled by Clover’s Head of Sales, Hiram Bermudez.”  On this news shares of Clover stock fell $1.72 per share to close at $12.23 per share on February 4, 2021.

    If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact:  Robin Hester at rkh@federmanlaw.com

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