MA Startup Hits Back at Damning Report as SEC Investigates

The tech-focused Medicare Advantage startup Clover Health — which should be riding high after its recent stock market debut — is instead being probed by the Securities and Exchange Commission and is facing a shareholder lawsuit amid allegations it misled investors by failing to publicly disclose that it was being investigated by the Dept. of Justice.

While the company has denied the allegations via a lengthy, public rebuttal, securities law experts tell AIS Health that Clover could face liability if it did actually conceal material information from investors — a fact that hasn’t yet been determined.

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Leslie Small

Leslie has been reporting and editing in various journalism roles for nearly a decade. Most recently, she was the senior editor of FierceHealthPayer, an e-newsletter covering the health insurance industry. A graduate of Penn State University, she previously served in editing roles at newspapers in Pennsylvania, Virginia and Colorado.

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