Did you lose money on investments in Cano Health? If so, please visit Cano Health, Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or [email protected] to discuss your rights.
NEW YORK, April 28, 2022 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the securities of Cano Health, Inc. (“Cano” or the “Company”) f/k/a Jaws Acquisition Corp. (“Jaws”) CANO between May 18, 2020 and February 25, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Southern District of Florida and alleges violations of the Securities Exchange Act of 1934.
Cano provides primary care medical services to its members in the U.S. and Puerto Rico. The Company owns and operates medical centers, as well as operates pharmacies.
Cano used to be a special purpose acquisition company (“SPAC”) and operated under the name “Jaws Acquisition Corp.” On June 3, 2021, Jaws consummated a merger with Primary Care (ITC) Intermediate Holdings, LLC (“PCIH”), whereby, among other things, Jaws changed its name to “Cano Health, Inc.” and began to provide primary care medical services (the “Business Combination”).
Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Cano overstated its due diligence efforts and expertise with respect to acquiring target businesses; (ii) accordingly, Cano performed inadequate due diligence into whether the Company, post-Business Combination, could properly account for the timing of revenue recognition as prescribed by ASC 606, particularly with respect to Medicare risk…