Datapoint: Clover Health to Face Lawsuit Over Misled Investors
March
9
A U.S. District judge on Feb. 28 declined Medicare Advantage startup Clover Health’s request to dismiss a lawsuit from shareholders, alleging the company misled investors during its initial public offering. The “multiple legal and regulatory violations” include violations of the False Claims Act, kickbacks to providers and office staff, misleading claims about Clover Assistant and improperly filed SEC documents. Clover Health currently serves 83,345 Medicare Advantage members, having performed well in the 2022 Annual Election Period, seeing 27.8% growth from Feb. 2021.
Source: AIS’s Directory of Health Plans
© 2024 MMIT
Meet Our Reporters
-
Lauren Flynn Kelly Executive Editor, AIS Health, and Managing Editor, Radar on Medicare Advantage
View Lauren Flynn Kelly's Profile -
Angela Maas Managing Editor, Radar on Specialty Pharmacy and Spotlight on Market Access
View Angela Maas's Profile -
Leslie Small Managing Editor, Health Plan Weekly and Radar on Drug Benefits
View Leslie Small's Profile -
Peter Johnson Senior Editor, Health Plan Weekly and Radar on Drug Benefits
View Peter Johnson's Profile -
Tim Casey Reporter, Health Plan Weekly and Radar on Drug Benefits
View Tim Casey's Profile -
Carina Belles Reporter, Radar on Medicare Advantage and Spotlight on Market Access
View Carina Belles's Profile -
Jinghong Chen Reporter, Health Plan Weekly and Radar on Drug Benefits
View Jinghong Chen's Profile