NEW YORK, Oct. 7, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Social Capital Hedosophia Holdings Corp III (“IPOC” or the “Company”) (NYSE: IPOC) in connection with the Company’s proposed merger with privately-held healthcare company Clover Health Investments, Corp. (“Clover Health”). Under the terms of the merger agreement, IPOC will acquire Clover Health through a reverse merger that will result in Clover Health becoming a publicly-listed company. The deal implies a value of $3.7 billion for Clover Health, including $1.2 billion in cash proceeds.
If you own IPOC shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether IPOC’s board acted in the best interest of IPOC’s public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of Clover Health, and whether all information regarding the valuation of the transaction will be fully and fairly disclosed to IPOC public shareholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
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SOURCE WeissLaw LLP