NEW YORK, NY - 
(NewMediaWire) - May 10, 2024 - Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) reminds investors that a complaint has been filed on behalf of purchasers or acquirers of Sharecare, Inc. (“Sharecare” or the “Company”) (NASDAQ: SHCR) securities between May 10, 2023 and March 28, 2024 (the “Class Period”). Click Here to Join Investigation.
Deadline Reminder: If you are a member of the proposed Class, you may move the court no later than June 18, 2024 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.
On March 29, 2024 Sharecare filed its Annual Report on Form 10-K for 2023 (the "2023 Annual Report") with the U.S. Securities and Exchange Commission. The 2023 Annual Report disclosed that "[b]ased upon their evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures . . . were not effective as of December 31, 2023 due to [a] material weakness in our internal control over financial reporting." The Company also disclosed that the material weakness related "to its revenue recognition evaluation resulting from a change in services provided to a customer, due to untimely communication between cross functional teams."
Following this news, Sharecare's stock price fell by more than 28% to close at $0.55 per share on April 1, 2024.
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If you have any questions about this Notice, your rights, or your interests, please contact:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
