Clover Health Provides Notice Associated with Previously Disclosed Settlement of Shareholder Derivative Actions
FRANKLIN, Tenn., April 04, 2024 (GLOBE NEWSWIRE) — As previously disclosed, most recently in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and in its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2023, Clover Health Investments, Corp. (the “Company”) has reached an agreement to resolve shareholder derivative actions pending in four jurisdictions. The actions are captioned: (1) Sun v. Garipalli, et al., No. 3:21-cv-0311 (M.D. Tenn.); (2) In re: Clover Health Investments Corp. Derivative Litig., No. 1:21-cv-00191 (D. Del.); (3) In re Clover Health Investments, Corp. Stockholder Derivative Litig., Index No. 655420/2021 (N.Y. Sup. Ct., N.Y. Cnty.); and (4) Davies v. Garipalli, et al., No. 2021-1016-SG (Del. Ch.) (collectively the “Shareholder Derivative Actions”). The Shareholder Derivative Actions were filed in the wake of the Company’s de-SPAC transaction.