Sharecare, Inc. (NASDAQ: SHCR)

This lawsuit is for anyone who acquired securities in Sharecare, Inc. (NASDAQ: SHCR) from May 10, 2023 through March 28, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company had in place sufficient financial controls but then by overstating revenue.

On March 29, 2024, Sharecare disclosed that it had “identified a material weakness in [its] internal control over financial reporting,” specifying that the Company “did not maintain adequate internal controls with respect to its revenue recognition evaluation resulting from a change in services provided to a customer, due to untimely communication between cross-functional teams.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Sharecare, Inc. (NASDAQ: SHCR) from May 10, 2023 through March 28, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.