NEW YORK, Aug. 27, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Comerica Incorporated (NYSE: CMA), and MSP Recovery, Inc. f/k/a Lionheart Acquisition Corp. II (NASDAQ: LIFW). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Comerica Incorporated (NYSE: CMA)
Class Period: February 9, 2021 - May 29, 2023
Lead Plaintiff Deadline: October 20, 2023
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) Comerica failed to provide meaningful oversight over the vendors to whom it contracted out day-to-day operations of the Direct Express program, a system through which it is contracted to provide federal benefits to millions of Americans without bank accounts; (2) as a result of violations in the day-to-day operations of Direct Express, including handling fraud disputes and allowing sensitive data to be handled out of a vendor’s office in Pakistan, Comerica was not in compliance with the Federal Contract, and knew it was not in compliance; (3) Comerica knew and failed to disclose that it was in potential violation of Regulation E due to inadequate fraud prevention in the Direct Express program and responses to instanced of fraud; and (4) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on the Comerica class action go to: https://bespc.com/cases/CMA
MSP Recovery, Inc. (NASDAQ: LIFW)
Class Period: (1) purchased or otherwise acquired publicly traded MSP Recovery f/k/a Lionheart Acquisition Corp. II (“Lionheart”) securities between April 28, 2022 and August 17, 2023, (2) all persons or entities who held Lionheart common stock eligible to vote at Lionheart’s May 18, 2022 special meeting, seeking to pursue remedies under Section 14(a) of the Exchange Act; and (3) all persons who purchased or otherwise acquired MSP Recovery securities pursuant and/or traceable to the Company’s registration statement filed with the SEC on July 1, 2022, as amended on July 21, 2022 and declared effective on August 5, 2022
Lead Plaintiff Deadline: October 23, 2023
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) MSP Recovery did not disclose that it was under active investigation by the SEC and federal prosecutors; (2) certain financial information given to investors by MSP Recovery was materially false and misleading; (3) MSP Recovery did not fully disclose the extent of its issues when it admitted that its financial results would need to be restated; (4) MSP Recovery was unable to afford the assigned claims on which it depends, and defrauded a major healthcare provider that sold or assigned it its claims; (5) The Registration Statement contained various false or misleading statements and was negligently prepared; (6) The Proxy contained false or misleading statements; and (7) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times and/or were negligently prepared. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on the MSP Recovery class action go to: https://bespc.com/cases/LIFW
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.