Clover Health Investments Corp. shareholders are set to represent a class on allegations that the Medicare Advantage-focused insurance company misled investors before going public, causing a stock-price drop when legal, accounting, and utilization problems were revealed.
Clover’s challenges to the named plaintiffs’ adequacy to represent other class members fell short, Judge Aleta A. Trauger said Tuesday for the US District Court for the Middle District of Tennessee. And common questions of law and fact predominate over individualized ones, she said.
A derivative suit over the same issues was filed in 2021 in the Delaware Chancery Court against some of the ...
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