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Articles Posted in Class Action

Silver Law Group is investigating potential claims on behalf of investors in Clover Health Investments, Corp. Clover Health is a health insurance services company based in Tennessee. In January 2021, Clover Health went public, but shortly thereafter, Hindenberg Research published a report calling into question Clover’s business practices leading up to Clover’s Initial Public Offering (IPO). Clover Health’s share price dropped more than 12% following the news.  Short Seller Hindenburg Published A Report Exposing Serious Alleged Misconduct  On February 4, 2021, Hindenburg Research published a report titled “Clover Health: How the ‘King of SPACs’ Lured Retail Investors Into a Broker Business Facing an Active, Undisclosed DOC Investigation”. The report lodged serious allegations regarding Clover Health’s business practices, including:  Clover has not disclosed that its business model and its software offering, called the Clover Assistant, are under active investigation by the Department of Justice (DOJ), which is investigating at least 12 issues ranging from kickbacks to marketing practices to undisclosed third-party deals, according to a Civil Investigative Demand (similar to a subpoena) we obtained. Much of Clover’s sales are driven by a major undisclosed related party deal and misleading marketing targeting the elderly.Silver Law Group is investigating potential claims on behalf of investors in Clover Health Investments, Corp. Clover Health is a health insurance services company based in Tennessee. In January 2021, Clover Health went public, but shortly thereafter, Hindenberg Research published a report calling into question Clover’s business practices leading up to Clover’s Initial Public Offering (IPO). Clover Health’s share price dropped more than 12% following the news. Continue reading ›

The Parking REIT, a non-traded real estate investment trust that has declined in value by over 50%, announced that it is selling the majority of the company to an affiliate of the alternative asset management firm Bombe Asset Management.  The agreement includes an investment by Bombe of $90 million in property and parking assets and $35 million in cash. Bombe will receive operating partnership units and warrants to purchase common stock. Bombe will purchase 1.55 million shares from the REIT’s advisor, its affiliates, and CEO Michael Shustek, for $11.75 each.  About The Parking REIT  The Parking REIT, which began operating in 2015, was formed when 2 non-traded REITS, MVP REIT and MVP REIT II, merged. The company invests in parking lots and garages in the U.S. and abroad.The Parking REIT, a non-traded real estate investment trust that has declined in value by over 50%, announced that it is selling the majority of the company to an affiliate of the alternative asset management firm Bombe Asset Management.

The agreement includes an investment by Bombe of $90 million in property and parking assets and $35 million in cash. Bombe will receive operating partnership units and warrants to purchase common stock. Bombe will purchase 1.55 million shares from the REIT’s advisor, its affiliates, and CEO Michael Shustek, for $11.75 each. Continue reading ›

Bit Digital, Inc. (BTBT) is the subject of a class action lawsuit filed on behalf of shareholders. The class action lawsuit concerns alleged violations of federal securities laws and seeks to recover damages for investors.  If you have losses from investing in Bit Digital, Inc. (BTBT) during the class period between December 21, 2020 and January 8, 2021, contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com.  Allegations In The Class Action  The complaint alleges that throughout the class period Bit Digital exaggerated the scope of its Bitcoin mining operations, and because of that their positive statements about the company and its prospects were misleading or lacked reasonable basis.  The class action lawsuit claims that investors suffered damages after the true details became known to the market. A class has not yet been certified in the action against Bit Digital. If you would like to be a lead plaintiff/class representative, you need to move the court before March 22, 2021. Bit Digital, Inc. (BTBT) is the subject of a class action lawsuit filed on behalf of shareholders. The class action lawsuit concerns alleged violations of federal securities laws and seeks to recover damages for investors.

If you have losses from investing in Bit Digital, Inc. (BTBT) during the class period between December 21, 2020 and January 8, 2021, contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. Continue reading ›

CleanSpark, Inc. (CLSK) is the subject of a class action lawsuit filed on behalf of shareholders. The class action lawsuit concerns alleged violations of federal securities laws and seeks to recover damages for investors. If you have losses from investing in CleanSpark, Inc. (CLSK) during the class period between December 31, 2020 and January 14, 2021, contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. Allegations In The Class Action The class action complaint alleges that CleanSpark made false and/or misleading statements throughout the class period and didn’t disclose to investors that the company overstated figures for contracts and customers, and that some of the company’s transactions involved undisclosed related party transactions. Because of that, it is alleged that the company’s statements about its operations and prospects were materially false.CleanSpark, Inc. (CLSK) is the subject of a class action lawsuit filed on behalf of shareholders. The class action lawsuit concerns alleged violations of federal securities laws and seeks to recover damages for investors.

If you have losses from investing in CleanSpark, Inc. (CLSK) during the class period between December 31, 2020 and January 14, 2021, contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. Continue reading ›

Silver Law Group is investigating fuboTV Inc. (FUBO) on behalf of investors for potential violations of federal securities laws.  fuboTV Inc. is a live streaming platform that allows customers to access sports, entertainment, and news in the United States and Europe.  Motley Fool Article Alleges “Big Problem With FuboTV Stock”  On January 4, 2021, The Motley Fool published an article on its website with the title “There’s a Big Problem With FuboTV Stock”. The article said that despite fuboTV stock making huge gains in 2020, the company was “wildly unprofitable” and characterized it as trying “to put lipstick on a pig with a creative metric.”  The article said that the company’s “adjusted contribution margin”, supposedly showing profitability, was “meaningless” and showed how quickly subscribers were being gained, not profitability. The article called this a red flag, and fuboTV’s stock fell over 13% the day the article was published.Silver Law Group is investigating fuboTV Inc. (FUBO) on behalf of investors for potential violations of federal securities laws.

fuboTV Inc. is a live streaming platform that allows customers to access sports, entertainment, and news in the United States and Europe. Continue reading ›

Northern Dynasty Minerals Ltd. (NAK), a mining company, is the subject of a class action lawsuit regarding potential violations of federal securities laws.  If you have losses from investing in Northern Dynasty Minerals Ltd. (NAK) during the class period between December 21, 2017 through November 25, 2020, contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com.  Army Corps Of Engineers Says Northern Dynasty Mine Would Degrade Environment  Northern Dynasty Minerals’ principal property is a proposed copper-gold-molybdenum project in southwest Alaska that covers 417 square miles known as the Pebble Project. On August 24, 2020, the U.S. Army Corp of Engineers put out a statement, which said that the Pebble Project would significantly degrade the environment and “likely result in significant adverse effects on the aquatic system or human environment.”Northern Dynasty Minerals Ltd. (NAK), a mining company, is the subject of a class action lawsuit regarding potential violations of federal securities laws.

If you have losses from investing in Northern Dynasty Minerals Ltd. (NAK) during the class period between December 21, 2017 through November 25, 2020, contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. Continue reading ›

A class action lawsuit has been filed against Neovasc Inc. (NVCN), a Canadian biotech company, regarding potential violations of federal securities laws.  If you have losses from investing in Neovasc Inc. (NVCN) during the class period between November 1, 2019 and October 27, 2020, contact Silver Law Group for a no-cost consultation at (800) 975-4345 or by email at ssilver@silverlaw.com.  The deadline to apply to be lead plaintiff is January 5, 2021. A class has not been certified in this case. You are not represented by an attorney until certification occurs.  Neovasc Reducer    Neovasc Inc. (NVCN) is a specialty medical device company that creates cardiovascular devices for the domestic and international market. Neovasc’s products include the Neovasc Reducer, which is under review by the U.S. Food and Drug Administration (FDA) for treatment of patients with refractory angina pectoris.A class action lawsuit has been filed against Neovasc Inc. (NVCN), a Canadian biotech company, regarding potential violations of federal securities laws.

If you have losses from investing in Neovasc Inc. (NVCN) during the class period between November 1, 2019 and October 27, 2020, contact Silver Law Group for a no-cost consultation at (800) 975-4345 or by email at ssilver@silverlaw.com. Continue reading ›

Silver Law Group has filed a class action lawsuit in Florida federal court on behalf of investors in Par Funding/Complete Solutions Group Inc., a business that gave merchant cash advance loans to small businesses, which the SEC calls a $500 million “web of unregistered, fraudulent securities offerings."Silver Law Group has filed a class action lawsuit in Florida federal court on behalf of investors in Par Funding/Complete Solutions Group Inc., a business that gave merchant cash advance loans to small businesses, which the SEC calls a $500 million “web of unregistered, fraudulent securities offerings.” Continue reading ›

It’s happened again—a startup company that touted revolutionary changes to an industry is being accused of fraud. After Elizabeth Holmes and her blood-testing company, Theranos, had a reputation later discovered as built on falsehoods, a Canadian recycling company is being accused of misrepresentations.  Similar to Theranos, Montreal-based plastic recycler Loop Industries claims to have “revolutionary technology.” Now, Loop has been outed by a report from Hindenburg Research that reports more than what’s been told. Hindenburg culled information from various sources, including industrial experts, company partners, competitors, company documents, as well as former employees of the company. They also submitted their findings to regulators. After the Hindenburg report’s release, shares of the company have dropped nearly 40%. Silver Law Group is a securities fraud law firm that represents investors in class action lawsuits. This blog may be considered advertising. Solving A Recycling Problem Although plastic recycling is more widespread than ever before, the practice isn’t without faults. Not every type of plastic is recyclable, and some are more difficult than others. PET, or polyethylene terephthalate, is the plastic that’s ubiquitous in bottled water, as well as packaging for foods and other beverages. Just last month, the company released 1,880,000 shares of its common stock at a price to the public of $12.75 per share. Roth Capital Partners was acting as the sole manager for the offering.It’s happened again—a startup company that touted revolutionary changes to an industry is being accused of fraud.

After Elizabeth Holmes and her blood-testing company, Theranos, had a reputation later discovered as built on falsehoods, a Canadian recycling company is being accused of misrepresentations. Similar to Theranos, Montreal-based plastic recycler Loop Industries claims to have “revolutionary technology.” Now, Loop has been outed by a report from Hindenburg Research that reports more than what’s been told. Continue reading ›

Silver Law Group is investigating Golar LNG Limited (GLNG) (“Golar” or the “Company”) for potential violations of the federal securities laws. On September 24, 2020, media outlets reported that Eduardo Navarro Antonello, Chief Executive Officer of Golar’s joint-venture subsidiary Hygo Energy Transition Ltd., had been implicated in a bribery network investigated in connection with the ongoing Brazilian criminal investigation Operation Car Wash. On this news, Golar’s stock price fell $3.28 per share, or approximately 32%, to close at $6.86 per share on September 24, 2020.  As the world focuses on cleaner forms of energy, Liquified Natural Gas (LNG) has become a frontrunner. As of 2019, the US is the third-largest importer of LNG. This growing interest means that LNG’s increased value is another avenue for investors.Silver Law Group is investigating Golar LNG Limited (GLNG) (“Golar” or the “Company”) for potential violations of the federal securities laws. On September 24, 2020, media outlets reported that Eduardo Navarro Antonello, Chief Executive Officer of Golar’s joint-venture subsidiary Hygo Energy Transition Ltd., had been implicated in a bribery network investigated in connection with the ongoing Brazilian criminal investigation Operation Car Wash. On this news, Golar’s stock price fell $3.28 per share, or approximately 32%, to close at $6.86 per share on September 24, 2020. Continue reading ›

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