LOS ANGELES, May 11, 2022 /PRNewswire/ — The law firms of Frank R. Cruz Announces that Investors Suffering Substantial Losses Have the Opportunity to File the Securities Fraud Class Action Lawsuit Against Cano Health, Inc. (“Cano” or the “Company”) f/k/a Jaws Acquisition Corp. (“Jaws”) (NYSE:CANO).
Class period: May 18, 2020 – February 25, 2022
Lead Applicant Deadline: May 17, 2022
If you are a shareholder who suffered a loss, click here to participate.
The filed complaint alleges that, throughout the class action period, the defendants failed to disclose to investors that: (1) Cano overstated its due diligence efforts and expertise in acquiring target businesses; (2) 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 prescribed by ASC 606, particularly with respect to relates to Medicare risk adjustments; (3) 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; (4) as a result, the Company was at increased risk of not filing one or more of its periodic financial reports on time; and (5) as a result of the foregoing, the defendants’ public statements were materially false and misleading at all relevant times.
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To be a class member, you do not need to take any action at this time; you can retain the services of a lawyer of your choice or do nothing and remain an absentee member of the class action. If you would like to know more about this class action, or if you have any questions about this announcement or your rights or interests in the pending class action, please contact Frank R. Cruzlaw firms of Frank R. Cruz1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email at [email protected]or visit our website at www.frankcruzlaw.com. If requesting by email, please include your mailing address, phone number and number of shares purchased.
This press release may be considered attorney advertising in certain jurisdictions under applicable law and ethics rules.
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SOURCE The law firms of Frank R. Cruz, Los Angeles
