NEW YORK, April 23, 2024 /PRNewswire/ -- Moore Law, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against:
- Sharecare Inc. (NASDAQ: SHCR)
*please contact fletcher@fmoorelaw.com
The investigation concerns allegations regarding false and/or misleading statements and/or failure to disclose that: (1) Sharecare lacked adequate internal controls; and (2) as a result, Sharecare's statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all times.
Sharecare filed with the SEC its 2023 quarterly Form 10-Q reports on May 10, August 9, and November 9. In each of these reports, Sharecare's Chief Executive Officer (CEO) and Chief Financial Officer (CFO) stated that the Company's disclosure controls and procedures required by Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934 (Exchange Act) were effective.
On March 29, 2024, Sharecare filed with the SEC in which Sharecare's CEO and CFO disclosed that the Company's disclosure controls and procedures required were not effective due to weakness in internal control over financial reporting. Sharecare's internal controls were inadequate regarding "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 by $0.2171, or 28.28% to close at $0.5504 on April 1, 2024.
If you own Sharecare Inc. (NASDAQ: SHCR), please contact Fletcher Moore by email at fletcher@fmoorelaw.com or (212) 709-8245.
There is no cost to you. We will never send you a bill or ask for payment.
Attorney advertising. Prior results do not guarantee similar outcomes.
Fletcher Moore, Esq.
Moore Law, PLLC
30 Wall Street, 8th Floor
New York, NY 10005
fletcher@fmoorelaw.com
(212) 709-8245
www.fmoorelaw.com
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SOURCE Moore Law PLLC
