Sharecare, Inc.
Case Overview
Status: | Status: Investigating |
Company Name: | Company Name: Sharecare, Inc. |
Ticker: | Ticker: SHCR |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP is investigating potential claims against Sharecare, Inc. (“Sharecare” or the “Company”) (NASDAQ: SHCR). The investigation concerns whether Sharecare and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
On March 29, 2024, Sharecare disclosed that it had “identified a material weakness in our internal control over financial reporting” on December 31, 2023. Specifically, the Company did not maintain adequate internal controls with respect to its revenue recognition evaluation resulting from a change in services provided to a customer. On this news, the price of Sharecare shares declined by $0.22 per share, or approximately 28.39%, from $0.77 per share on March 28, 2024 to close at $0.55 on April 1, 2024.
On March 29, 2024, Sharecare disclosed that it had “identified a material weakness in our internal control over financial reporting” on December 31, 2023. Specifically, the Company did not maintain adequate internal controls with respect to its revenue recognition evaluation resulting from a change in services provided to a customer. On this news, the price of Sharecare shares declined by $0.22 per share, or approximately 28.39%, from $0.77 per share on March 28, 2024 to close at $0.55 on April 1, 2024.