{"id":474824,"date":"2021-04-12T11:03:04","date_gmt":"2021-04-12T15:03:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/mpln-shareholder-alert-bronstein-gewirtz-grossman-llc-notifies-multiplan-corporation-investors-of-class-action-and-encourages-shareholders-to-contact-the-firm-4\/"},"modified":"2021-04-12T11:03:04","modified_gmt":"2021-04-12T15:03:04","slug":"mpln-shareholder-alert-bronstein-gewirtz-grossman-llc-notifies-multiplan-corporation-investors-of-class-action-and-encourages-shareholders-to-contact-the-firm-4","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/mpln-shareholder-alert-bronstein-gewirtz-grossman-llc-notifies-multiplan-corporation-investors-of-class-action-and-encourages-shareholders-to-contact-the-firm-4\/","title":{"rendered":"MPLN Shareholder Alert: Bronstein, Gewirtz &amp; Grossman, LLC Notifies MultiPlan Corporation Investors of Class Action and Encourages Shareholders to Contact the Firm"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>MPLN Shareholder Alert: Bronstein, Gewirtz &amp; Grossman, LLC Notifies MultiPlan Corporation Investors of Class Action and Encourages Shareholders to Contact the Firm<\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nBronstein, Gewirtz &amp; Grossman, LLC notifies investors that a class action lawsuit has been filed against MultiPlan Corporation<b \/>f\/k\/a Churchill Capital Corp. III (&#8220;Churchill III&#8221;) (&#8220;MultiPlan&#8221; or the &#8220;Company&#8221;) (NASDAQ: MPLN) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired MultiPlan securities between July 12, 2020 and November 10, 2020, inclusive (the &#8220;Class Period&#8221;) and on behalf of all holders of Churchill III Class A common stock entitled to vote on Churchill III\u2019s merger with and acquisition of Polaris Parent Corp. and its consolidated subsidiaries (collectively, &#8220;MultiPlan&#8221;), which merger was consummated in October 2020 (the &#8220;Merger&#8221;). Such investors are encouraged to join this case by visiting the firm\u2019s site: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.bgandg.com%2Fmpln&amp;esheet=52409474&amp;newsitemid=20210412005089&amp;lan=en-US&amp;anchor=www.bgandg.com%2Fmpln&amp;index=1&amp;md5=9943be238d5be034f4f51e6f8198256b\">www.bgandg.com\/mpln<\/a>.\n<\/p>\n<p><span style=\"font-weight:normal\">This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934. <\/span><\/p>\n<p>\nThe complaint alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, and failed to disclose material adverse facts to investors.\n<\/p>\n<p>\nThis complaint alleges that, throughout the Class Period, Defendants made false and\/or misleading statements and\/or failed to disclose that: (1) MultiPlan was losing tens of millions of dollars in sales and revenues to Naviguard, a competitor created by one of MultiPlan\u2019s largest customers, UnitedHealthcare, which threatened up to 35% of MultiPlan\u2019s sales and 80% of its levered cash flows by 2022; (2) sales and revenue declines in the quarters leading up to the Merger were not due to \u201cidiosyncratic\u201d customer behaviors as represented, but rather due to a fundamental deterioration in demand for MultiPlan\u2019s services and increased competition, as payors developed competing services and sought alternatives to eliminating excessive healthcare costs; (3) MultiPlan was facing significant pricing pressures for its services and had been forced to materially reduce its take rate in the lead up to the Merger by insurers, who had expressed dissatisfaction with the price and quality of MultiPlan\u2019s services and balanced billing practices, causing MultiPlan to cut its take rate by up to half in some cases; (4) as a result, MultiPlan was set to continue to suffer from revenues and earnings declines, increased competition and deteriorating pricing dynamics following the Merger; (5) consequently, MultiPlan was forced to seek continued revenue growth and to improve its competitive positioning through pricey acquisitions, including through the purchase of the healthcare technology company HST for $140 million at a premium price from a former MultiPlan executive only one month after the Merger; and (6) as such, Churchill III investors had grossly overpaid for the acquisition of MultiPlan in the Merger, and MultiPlan\u2019s business was worth far less than represented to investors.\n<\/p>\n<p><span style=\"font-weight:normal\">A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm\u2019s site: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.bgandg.com%2Fmpln&amp;esheet=52409474&amp;newsitemid=20210412005089&amp;lan=en-US&amp;anchor=www.bgandg.com%2Fmpln&amp;index=2&amp;md5=666c0d96b3cec73f7d3c5ec16e8d1985\">www.bgandg.com\/mpln<\/a><\/span><b \/><span style=\"font-weight:normal\">or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz &amp; Grossman, LLC at 212-697-6484. If you suffered a loss in MultiPlan you have until June 7, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn&#8217;t require that you serve as a lead plaintiff. <\/span><\/p>\n<p>\nBronstein, Gewirtz &amp; Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm\u2019s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210412005089r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210412005089\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210412005089\/en\/<\/a><\/span><\/p>\n<p>\nBronstein, Gewirtz &amp; Grossman, LLC<br \/>\n<br \/>Peretz Bronstein or Yael Hurwitz<br \/>\n<br \/>212-697-6484 | <a rel=\"nofollow\" href=\"mailto:info@bgandg.com\">info@bgandg.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210412005089\/en\/779279\/3\/Screen_Shot_2020-03-10_at_10.22.21_AM.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>MPLN Shareholder Alert: Bronstein, Gewirtz &amp; Grossman, LLC Notifies MultiPlan Corporation Investors of Class Action and Encourages Shareholders to Contact the Firm NEW YORK&#8211;(BUSINESS WIRE)&#8211; Bronstein, Gewirtz &amp; Grossman, LLC notifies investors that a class action lawsuit has been filed against MultiPlan Corporationf\/k\/a Churchill Capital Corp. III (&#8220;Churchill III&#8221;) (&#8220;MultiPlan&#8221; or the &#8220;Company&#8221;) (NASDAQ: MPLN) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired MultiPlan securities between July 12, 2020 and November 10, 2020, inclusive (the &#8220;Class Period&#8221;) and on behalf of all holders of Churchill III Class A common stock entitled to vote on Churchill III\u2019s merger with and acquisition of Polaris Parent Corp. and its consolidated subsidiaries (collectively, &#8220;MultiPlan&#8221;), which merger was consummated &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mpln-shareholder-alert-bronstein-gewirtz-grossman-llc-notifies-multiplan-corporation-investors-of-class-action-and-encourages-shareholders-to-contact-the-firm-4\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;MPLN Shareholder Alert: Bronstein, Gewirtz &amp; Grossman, LLC Notifies MultiPlan Corporation Investors of Class Action and Encourages Shareholders to Contact the Firm&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-474824","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MPLN Shareholder Alert: Bronstein, Gewirtz &amp; Grossman, LLC Notifies MultiPlan Corporation Investors of Class Action and Encourages Shareholders to Contact the Firm - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mpln-shareholder-alert-bronstein-gewirtz-grossman-llc-notifies-multiplan-corporation-investors-of-class-action-and-encourages-shareholders-to-contact-the-firm-4\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MPLN Shareholder Alert: Bronstein, Gewirtz &amp; Grossman, LLC Notifies MultiPlan Corporation Investors of Class Action and Encourages Shareholders to Contact the Firm - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MPLN Shareholder Alert: Bronstein, Gewirtz &amp; Grossman, LLC Notifies MultiPlan Corporation Investors of Class Action and Encourages Shareholders to Contact the Firm NEW YORK&#8211;(BUSINESS WIRE)&#8211; Bronstein, Gewirtz &amp; Grossman, LLC notifies investors that a class action lawsuit has been filed against MultiPlan Corporationf\/k\/a Churchill Capital Corp. III (&#8220;Churchill III&#8221;) (&#8220;MultiPlan&#8221; or the &#8220;Company&#8221;) (NASDAQ: MPLN) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired MultiPlan securities between July 12, 2020 and November 10, 2020, inclusive (the &#8220;Class Period&#8221;) and on behalf of all holders of Churchill III Class A common stock entitled to vote on Churchill III\u2019s merger with and acquisition of Polaris Parent Corp. and its consolidated subsidiaries (collectively, &#8220;MultiPlan&#8221;), which merger was consummated &hellip; Continue reading &quot;MPLN Shareholder Alert: Bronstein, Gewirtz &amp; Grossman, LLC Notifies MultiPlan Corporation Investors of Class Action and Encourages Shareholders to Contact the Firm&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/mpln-shareholder-alert-bronstein-gewirtz-grossman-llc-notifies-multiplan-corporation-investors-of-class-action-and-encourages-shareholders-to-contact-the-firm-4\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-12T15:03:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210412005089r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mpln-shareholder-alert-bronstein-gewirtz-grossman-llc-notifies-multiplan-corporation-investors-of-class-action-and-encourages-shareholders-to-contact-the-firm-4\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mpln-shareholder-alert-bronstein-gewirtz-grossman-llc-notifies-multiplan-corporation-investors-of-class-action-and-encourages-shareholders-to-contact-the-firm-4\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"MPLN Shareholder Alert: Bronstein, Gewirtz &amp; 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Grossman, LLC notifies investors that a class action lawsuit has been filed against MultiPlan Corporationf\/k\/a Churchill Capital Corp. III (&#8220;Churchill III&#8221;) (&#8220;MultiPlan&#8221; or the &#8220;Company&#8221;) (NASDAQ: MPLN) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired MultiPlan securities between July 12, 2020 and November 10, 2020, inclusive (the &#8220;Class Period&#8221;) and on behalf of all holders of Churchill III Class A common stock entitled to vote on Churchill III\u2019s merger with and acquisition of Polaris Parent Corp. and its consolidated subsidiaries (collectively, &#8220;MultiPlan&#8221;), which merger was consummated &hellip; Continue reading \"MPLN Shareholder Alert: Bronstein, Gewirtz &amp; Grossman, LLC Notifies MultiPlan Corporation Investors of Class Action and Encourages Shareholders to Contact the Firm\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/mpln-shareholder-alert-bronstein-gewirtz-grossman-llc-notifies-multiplan-corporation-investors-of-class-action-and-encourages-shareholders-to-contact-the-firm-4\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-12T15:03:04+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210412005089r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mpln-shareholder-alert-bronstein-gewirtz-grossman-llc-notifies-multiplan-corporation-investors-of-class-action-and-encourages-shareholders-to-contact-the-firm-4\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mpln-shareholder-alert-bronstein-gewirtz-grossman-llc-notifies-multiplan-corporation-investors-of-class-action-and-encourages-shareholders-to-contact-the-firm-4\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"MPLN Shareholder Alert: Bronstein, Gewirtz &amp; 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