GLOBE NEWSWIRE, 01 December 2020
On November 11, 2020, Muddy Waters Research (“Muddy Waters”) released a report entitled “MultiPlan: Private Equity Necrophilia Meets The Great 2020 Money Grab.” Among other issues, the Muddy Waters report asserted that Multiplan is “in financial decline, and its financial statements were engineered to obscure this existing deterioration” and that the Company “is in the process of losing its largest client, UnitedHealthcare (‘UHC’),” which “has formed a competitor to MPLN that offers significantly lower prices and fewer conflicts of interest.” On this news, Multiplan’s stock price fell $1.72 per share, or 19.7%, to close at $7.01 per share on November 11, 2020.
