NEW YORK, June 7, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Sharecare, Inc. ("Sharecare" or the "Company") (NASDAQ: SHCR). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Sharecare and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until June 18, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Sharecare securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On March 29, 2024 Sharecare filed its Annual Report on Form 10-K for 2023 (the "2023 Annual Report") with the U.S. Securities and Exchange Commission. Among other items, the 2023 Annual Report disclosed that "[b]ased upon their evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures . . . were not effective as of December 31, 2023 due to [a] material weakness in our internal control over financial reporting". Sharecare stated that the material weakness related "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 per share, or 28.28%, to close at $0.55 per share on April 1, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
