Multiplan Corporation (NYSE: MPLN), Canoo Inc. (NASDAQ: GOEV), Qurate Retail Inc. (NASDAQ: QRTEA), and Washington Prime Group Inc. (NYSE: WPG) are under probe for violation of securities laws.
The Law Offices of Vincent Wong probing Washington Prime Group and Multiplan
The Law Offices of Vincent Wong have announced a class action on behalf of Washington Prime Group and Multiplan Corporation shareholders. Multiplan shareholders who suffered losses between July 12, 2020, and November 2020 have up to June 7, 2021, to contact the law firm regarding the investigation. The company is being investigated for losing a lot of money in revenue and sales to Naviguard, which threatened around 35% of its sales and 80% of levered cash flow by 2020.
On the other hand, Washington Prime Group is being investigated regarding its deteriorating financial condition leading to uncertainty about its ability to meet capital structure obligations. As a result, the company made materially misleading statements regarding its prospects, business, and operation. Accordingly, shareholders who bought WPG between November 5, 2020, and March 4, 2021, have until July 23 to contract the firm.
Quarate and Canoo investigated for securities violation
Kaskela Law LLC is investigating Qurate Retail on behalf of shareholders. The probe seeks to establish whether the company’s directors and officers breached fiduciary duties and violated securities regarding the company’s recent corporate actions.
Law Offices of Howard G. Smith continues to i8nvestiget Canoo on behalf of shareholders after the company reported a net loss of $89.9 million for FY2020. The company also announced the resignation of its CFO. In addition, an article on the Verge pointed that Canoo’s deal with Hyundai had died, and the company changed tune on selling electric vehicle tech to big companies. Following the news, its stock dropped 21% on March 30, 2021, injuring investors.