Clover Health Stockholder Sues In Del. For Company Docs

Clover Health Stockholder Sues In Del. For Company Docs

By Leslie A. Pappas (April 29, 2022, 7:05 PM EDT) — A stockholder of Clover Wellness Investments Corp. sued the Medicare Benefit company in Delaware’s Chancery Court, saying he desired obtain to documents to examine the firm’s administrators and officers and “materially bogus and deceptive statements” that have activated two class steps.

In a complaint filed late Thursday, stockholder Richard Armon alleged that organization associates which include board chairman Chamath Palihapitiya created wrong and misleading statements about the firm’s organization and regulatory standing, primary to a federal securities course motion in Tennessee and a derivative go well with in Delaware.

“This misconduct has harmed and will go on to hurt the organization and provides a credible basis…

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