HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages MultiPlan (MPLN) and ZoomInfo (ZI) Traders with Losses to Contact Its Attorneys, Agency Investigating Attainable Securities Fraud

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HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages MultiPlan (MPLN) and ZoomInfo (ZI) Investors with Losses to Contact Its Attorneys, Firm Investigating Possible Securities Fraud

SAN FRANCISCO, Nov 23, 2020 (GLOBE NEWSWIRE) – Hagens Berman is updating investors in the following publicly traded companies and encouraging investors who have suffered significant losses to reach out to the company. Further details on the examinations can be found under the links provided.

MLPN investors click here.
ZI investors click here.

MultiPlan Corporation (MPLN) investigation::

Relevant participation Period: Before November 11, 2020
visit:: www.hbsslaw.com/investor-fraud/MPLN
Contact an attorney now:: MPLN@hbsslaw.com
844-916– –0895

The investigation focuses on MultiPlan’s financial statements, which are related to and through its merger and IPO with SPAC company Churchill Capital Corp. III have led.

In particular, Hagens Berman examines the statements made by the company and its sponsor regarding the customer base and revenue of MultiPlan.

On November 11, 2020, Muddy Waters Capital published a damning report entitled “MultiPlan: Private Equity Necrophilia Meets The Big Money Heist For 2020”, based in part on interviews with former MultiPlan executives.

Muddy Waters notes, among other things: (1) The company and its sponsors have concealed the impending loss of the largest MultiPlan customer (“UnitedHealthcare” or “UHC”) due to UHC’s formation of a competitor (“Naviguard”) who offers significantly less Prices and fewer conflicts of interest; (2) MultiPlan’s financial data has been “financially designed to mask the deterioration of its business.” and (3) “[w]We know that in 2018 MPLN released revenue reserves that dropped from roughly 30% to 10% of revenue. We believe MPLN saw EBITDA growth in 2018 with declining sales. “

In conclusion, Muddy Waters said, “MPLN paints a rosy picture of its outlook, but it does not match the facts: sales peaked in 2017 and Naviguard is never mentioned as a threat by management.” And “We are concerned that The stock management strategy has the potential to bankrupt MPLN. “

“We’re focusing on investor losses and whether MultiPlan has misrepresented its customer base and revenue,” said Reed Kathrein, the Hagens Berman partner who led the investigation.

If you are a MultiPlan investor and experience significant losses or have knowledge that may aid the company’s investigation, click here to discuss your legal rights with Hagens Berman.

Investigation by ZoomInfo Technologies (ZI)::

Relevant participation Period: Before November 10, 2020
visit:: www.hbsslaw.com/investor-fraud/ZI
Contact an attorney now:: ZI@hbsslaw.com
844-916– –0895

Hagens Berman investigates ZoomInfo’s financial reporting compliance (“GAAP”) for reporting certain tax benefits.

Specifically, on November 9, 2020, ZoomInfo announced that the Board of Directors’ Audit Committee concluded on November 5, 2020 that the company’s financial statements for the second quarter of 2020, filed with the SEC, should not be considered reliable.

ZoomInfo further announced that it would adjust these results as it improperly recorded a tax benefit of $ 21.6 million on the GAAP and tax bases of partnerships of companies within ZoomInfo’s corporate structure. Because of this improper accounting, ZoomInfo underestimated its net loss in Q2 2020 by over 38%.

“We’re focusing on investor losses and whether ZoomInfo has deliberately manipulated the GAAP / tax base difference of certain assets to get a misleading picture of the company’s actual financial results,” said Reed Kathrein, Hagens Berman partner, who directed the investigation.

If you are a ZoomInfo investor and are experiencing significant losses or have knowledge that may aid the company’s investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblower: Individuals with nonpublic information about MultiPlan and / or ZoomInfo should review their options to help with the investigation or to use the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. Further information is available from Reed Kathrein at 844– –916– –0895 or send an email to MPLN@hbsslaw.com and / or ZI@hbsslaw.com.

About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities across the country and eighty attorneys. The firm represents investors, whistleblowers, employees and consumers in complex legal disputes. More information about the company and its achievements can be found at hbsslaw.com. For the latest news, visit our newsroom or follow us on Twitter @classactionlaw.

Contact:
Reed Kathrein, 844-916-0895

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