Law Offices of Howard G. Smith announces an investigation on behalf of Sharecare, Inc. (“Sharecare” or the “Company”) (NASDAQ: SHCR) investors concerning the Company’s possible violations of federal securities laws.
On March 29, 2024, Sharecare disclosed that it had “identified a material weakness in [its] internal control over financial reporting,” specifying that the Company “did not maintain adequate internal controls with respect to its revenue recognition evaluation resulting from a change in services provided to a customer, due to untimely communication between cross-functional teams.”
On this news, Sharecare’s stock price fell $0.22, or 28.4%, to close at $0.55 per share on April 1, 2024, thereby injuring investors.
If you purchased Sharecare securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240405389763/en/