The Law Offices of Frank R. Cruz Announces Investigation of Sharecare, Inc. (SHCR) on Behalf of Investors

Business Wire 3-Apr-2024 6:47 PM

The Law Offices of Frank R. Cruz announces an investigation of Sharecare, Inc. ("Sharecare" or the "Company") (NASDAQ:SHCR) on behalf of investors concerning the Company's possible violations of federal securities laws.

If you are a shareholder who suffered a loss, click here to participate.

On March 29, 2024, Sharecare disclosed that it had "identified a material weakness in [its] internal control over financial reporting," specifying that 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, due to untimely communication between cross-functional teams."

On this news, Sharecare's stock price fell $0.22, or 28.4%, to close at $0.55 per share on April 1, 2024, thereby injuring investors.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

If you purchased Sharecare securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240403980966/en/