The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Clarivate Plc (NYSE: CLVT) who purchased shares between February 26, 2021 and December 27, 2021. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
In particular, the Clarivate lawsuit alleges that (i) Clarivate maintained defective disclosure controls and procedures as a result of a material weakness in its internal control over financial reporting; (ii) the foregoing material weakness was not limited to how the Company accounted for warrants; (iii) as a result, Clarivate failed to properly account for an equity plan included in its acquisition of CPA Global, a global leader in Intellectual Property software and tech-enabled services; (iv) accordingly, the Company was reasonably likely to restate one or more of its previously issued financial statements following its acquisition of CPA Global; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until March 25, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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