According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that:
- MSP Recovery did not disclose that it was under active investigation by the SEC and federal prosecutors;
- certain financial information given to investors by MSP Recovery was materially false and misleading;
- MSP Recovery did not fully disclose the extent of its issues when it admitted that its financial results would need to be restated;
- MSP Recovery was unable to afford the assigned claims on which it depends, and defrauded a major healthcare provider that sold or assigned it its claims;
- The Registration Statement contained various false or misleading statements and was negligently prepared;
- The Proxy contained false or misleading statements; and
- as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times and/or were negligently prepared.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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