Clover Health has issued an official response to Hindenburg Research’s short report on its company.
The company said in the letter that “the alleged “report” is rife with ad-hominem attacks, sweeping inaccuracies and gross mischaracterizations. Importantly, the short seller firm did not contact Clover, and we had no knowledge of the short seller report prior to it being made publicly available. In our view, it belies a desperate attempt for publicity while sacrificing any regard for the truth. In addition, we would note that the report’s title specifically calls out the involvement of ‘The King of SPACs,’ Chamath Palihapitiya, and accuses him of a dearth of diligence.”
“This, as we will show, is completely untrue, and we suspect this was done in order to sensationalize what is otherwise a rather underwhelming piece of research. Given the market’s latest views on short sellers, we believe that Hindenburg, which takes pains to call out their altruism in saying that they are not short on CLOV stock, is foolheartedly seeking to redeem itself by posturing as a white knight of the financial markets. We’ve put together this response as rapidly as possible.
“We hope you will find it extremely informative,” the statement said.
See below a link to the detailed letter. – https://www.sec.gov/Archives/edgar/data/1801170/000119312521029637/d66346dex991.htm