SAN DIEGO, April 03, 2024 (GLOBE NEWSWIRE) — Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of securities laws by Sharecare, Inc. (“Sharecare ” or “the Company”) (NASDAQ: SHCR). We are looking into whether the Company or its executives failed to disclose vital information to investors, leading to losses on their investments. If you have purchased Sharecare securities and have experienced losses, we encourage you to join our investigation to potentially make claims and recover under federal securities laws.
What if I purchased Sharecare securities? If you believe that you may have a potential claim against Sharecare and would like to participate in the investigation or learn more about your legal rights and options, please contact Johnson Fistel, LLP at (619) 814-4471) or click here to join the investigation online. There is no cost or obligation to you.
Click Here to Join the Investigation
What is Johnson Fistel investigating? On March 29, 2024, Sharecare formally announced the detection of a significant flaw within its internal control over financial reporting. The company acknowledged that it had failed to uphold sufficient internal controls pertaining to its revenue recognition evaluation. This lapse was due to a shift in services provided to a client and was precipitated by delayed communication across different functional teams. This control deficiency led to a pre-filing adjustment concerning revenue recognition for the said contract in the Company’s consolidated financial statements for the fiscal year ending December 31, 2023. Following this news, Sharecare stock closed lower.
What if I have relevant nonpublic information? Individuals with nonpublic information about the Company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
About Johnson Fistel, LLP | Top Law Firm, Securities Fraud, Investors Rights:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. We also extend our services to foreign investors who have purchased on US exchanges. Stay updated with news on stock drops and learn how Johnson Fistel, LLP can help you recover your losses. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
