NEW
YORK, April 23, 2024 /PRNewswire/ -- Moore
Law, PLLC, a securities and shareholder law firm located on
Wall Street, is investigating potential claims against:
- Sharecare Inc. (NASDAQ: SHCR)
*please contact fletcher@fmoorelaw.com
The investigation concerns allegations regarding false
and/or misleading statements and/or failure to disclose that: (1)
Sharecare lacked adequate internal controls; and (2) as a result,
Sharecare's statements about its business, operations, and
prospects were materially false and misleading and/or lacked a
reasonable basis at all times.
Sharecare filed with the SEC its 2023 quarterly Form 10-Q
reports on May 10, August 9, and November 9. In each
of these reports, Sharecare's Chief Executive Officer (CEO) and
Chief Financial Officer (CFO) stated that the Company's disclosure
controls and procedures required by Rules 13a-15(e) and 15d-15(e)
of the Securities Exchange Act of 1934 (Exchange Act) were
effective.
On March 29, 2024, Sharecare filed with the SEC in which
Sharecare's CEO and CFO disclosed that the Company's disclosure
controls and procedures required were not effective due to weakness
in internal control over financial reporting. Sharecare's internal
controls were inadequate regarding "revenue recognition evaluation
resulting from a change in services provided to a customer, due to
untimely communication between cross-functional teams."
On this news, Sharecare's stock price fell by $0.2171, or
28.28% to close at $0.5504 on April 1, 2024.
If you own Sharecare Inc. (NASDAQ: SHCR), please
contact Fletcher Moore by email
at fletcher@fmoorelaw.com or (212) 709-8245.
There is no cost to you. We will never send you a bill or ask
for payment.
Attorney advertising. Prior results do not guarantee similar
outcomes.
Fletcher Moore, Esq.
Moore Law, PLLC
30 Wall Street, 8th Floor
New York, NY 10005
fletcher@fmoorelaw.com
(212) 709-8245
www.fmoorelaw.com
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SOURCE Moore Law PLLC