Article: MPLN SECURITIES FRAUD INVESTIGATION: Hagens Berman, National Trial Attorneys, Alerts MultiPlan (MPLN) Investors with Losses to Contact Its Attorneys Now, Firm Investigating Possible Securities Fraud

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MPLN SECURITIES FRAUD INVESTIGATION: Hagens Berman, National Trial Attorneys, Alerts MultiPlan (MPLN) Investors with Losses to Contact Its Attorneys Now, Firm Investigating Possible Securities Fraud

Newsfile Corp., 18 November 2020

The investigation centers on MultiPlan’s financial disclosures leading up to- and through- its merger and going public transaction with special purpose acquisition (“SPAC”) company Churchill Capital Corp. III. More specifically, Hagens Berman is investigating the company’s and its sponsor’s statements about MultiPlan’s client base and revenues. On Nov. 11, 2020, Muddy Waters Capital published a scathing report, “MultiPlan: Private Equity Necrophilia Meets The Great 2020 Money Grab,” based in part on its interviews of former MultiPlan executives.

Among other things, Muddy Waters observes: (1) the company and its sponsors concealed the impending loss of MultiPlan’s largest client (“UnitedHealthcare”, or “UHC”) due to UHC’s formation of a competitor (“Naviguard”) that offers significantly lower prices and fewer conflicts of interest; (2) MultiPlan’s financials “have been financially engineered to obscure the decay in its business;” and, (3) “[w]e understand that in 2018, MPLN released revenue reserves, dropping them from approximately 30% to 10% of revenue, which we believe enabled MPLN to show 2018 EBITDA growth amid shrinking sales.”
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Article: Investor Alert: Kaplan Fox Investigates FuelCell Energy, Inc. For Potential Securities Fraud

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Investor Alert: Kaplan Fox Investigates FuelCell Energy, Inc. For Potential Securities Fraud

Kaplan Fox & Kilsheimer LLP, 06 October 2020

NEW YORK, Oct. 6, 2020 /PRNewswire/ — Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors who purchased shares of FuelCell Energy, Inc. (“FuelCell Energy” or the “Company”) (NASDAQ: FCEL), a manufacturer of fuel cell power plants for electric power generation.

In 2017, FuelCell Energy reportedly won three significant contract awards from PSEG Long Island worth up to $800 million in future revenue potential over the life of the contracts. On October 2, 2020, FuelCell Energy closed a secondary public offering of stock by selling about 50 million shares of common stock at $2.10 per share.
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