Case Summary

Sharecare

NASDAQ: SHCR

Case Details

  • Buqueras v. Sharecare, Inc. et al.
  • Class Period:May 10, 2023 - March 28, 2024
  • Date Filed:April 19, 2024
  • Jurisdiction:U.S. District Court, Central District of California
  • Docket Number: 2:24-cv-03225
  • Lead Plaintiff Deadline: June 18, 2024
Days Left to
Seek Plaintiff
24

Overview

A class action lawsuit has been filed against Sharecare, Inc. (“Sharecare” or the “Company”) (NASDAQ: SHCR) and certain of the Company’s current and former senior executive officers alleging violations of the Securities Exchange Act of 1934.  The Sharecare lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired publicly traded Sharecare securities between May 10, 2023, and March 28, 2024, both dates inclusive (the “Class Period”), and investors have until June 18, 2024 to seek appointment as lead plaintiff of the Sharecare class action lawsuit.

Sharecare is a digital healthcare company that helps people manage their health in one place.  The Company offers a virtual health platform, which is designed to help people, patients, providers, employers, health plans, government organizations, and communities optimize individual- and population-wide well-being by driving positive behavior change.

The lawsuit alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Sharecare lacked adequate internal controls and (2) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all times.

On March 29, 2024, the Company announced that in connection with the audit of its financial statements as of and for the year ended December 31, 2023, “we identified a material weakness in our internal control over financial reporting.  As of December 31, 2023, the Company did not maintain adequate internal controls with respect to its revenue recognition evaluation resulting from a change in services provided to a customer, due to untimely communication between cross functional teams.”  On this news, the price of Sharecare stock fell by $0.2171, or 28.28%, to close at $0.5504 on April 1, 2024.

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If you purchased or otherwise acquired publicly traded Sharecare securities between May 10, 2023 and March 28, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Sharecare lawsuit is June 18, 2024.

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