SAN DIEGO, June 06, 2022 (GLOBE NEWSWIRE) — Johnson Fistel, LLP investigating potential claims on behalf of Cano Health, Inc. (“Cano” or the “Company”) f/k/a Jaws Acquisition Corp. (“Jaws”) (: CANO) against certain of its officers and directors.
Recently, a class action lawsuit was filed against Cano. The lawsuit filed in this class action alleges that the 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 regarding the acquisition of Target Businesses; (ii) as a result, Cano performed inadequate due diligence to determine whether the Company, post-business combination, could properly account for the timing of revenue recognition as required by ASC 606, particularly with respect to relates to Medicare risk adjustments; (iii) as a result, the Company misreported its capitation revenues, direct patient expenses, accounts receivable, net of unpaid service provider costs, and accounts payable and accrued liabilities; (iv) as a result, the Company was at increased risk of not filing one or more of its periodic financial reports on time; and (v) as a result, the Company’s public statements were materially false and misleading at all material times.
If you are a current long-term shareholder of Cano shares and have owned shares of the company since May 17, 2020, you may have standing to hold Cano harmless from the alleged harm caused by the Company’s officers and directors by making them personally liable. You may also be able to help reform the company’s corporate governance to prevent future wrongdoing.
If you permanently own Cano shares, you can click or copy and paste the link below into a browser to join this share:
If you want to know more about the investigation, please contact Senior Analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivatives and securities class actions. Johnson Fistel is seeking to recover losses incurred due to violations of federal securities laws. For more information about the firm and its lawyers, visit http://www.johnsonfistel.com. Lawyer advertisement. Past results do not guarantee future results.
Johnson Fistel, LLP
Jim Baker, 619-814-4471