SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Clarivate Plc - CLVT
NEW YORK, Jan. 6, 2022 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Clarivate Plc ("Clarivate" or the "Company") (NYSE: CLVT). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Clarivate and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On December 27, 2021, Clarivate disclosed in a filing with the U.S. Securities and Exchange Commission that "[o]n December 22, 2021, Clarivate . . . concluded that the financial statements previously issued as of and for the year ended December 31, 2020, and the quarterly periods ended March 31, 2021, June 30, 2021, and September 30, 2021, should no longer be relied upon because of an error in such financial statements[.]" Specifically, Clarivate reported that "[t]he error relates to the treatment under U.S. generally accepted accounting principles ('GAAP') relating to an equity plan included in the CPA Global business combination which was consummated on October 1, 2020 ('the CPA Global Transaction'). In the affected financial statements, certain awards made by CPA Global under its equity plan were incorrectly included as part of the acquisition accounting for the CPA Global Transaction."
On this news, Clarivate's stock price fell $1.70 per share, or 6.92%, to close at $22.78 per share on December 28, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
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