Chamath Palihapitiya Under Investigation for FRAUD

Chamath Palihapitiya Under Serious Investigation for FRAUD at Social Capital

Do you remember Chamath's merger with Clover Health back in October 2020? And how was accused of fraudulent activities in which he misled investors? Yep, that one. Today we'll be focusing on how both Chamath Palihapitiya and Clover Health CEO Vivek Garipalli actually went out of their way and answered every single one of the Hindenberg Research's claims. All on record in an official statement. Their stories better match! Today we will be talking about their central stance and the current outcomes of them. Let's quickly recap. Going back to 2012, Vivek Garipalli decided to set up Clover Health. Then, in October 2020, Chamath approached Clover Health and took the company public. It was a successful merger. But Hindenberg grew suspicious about activities that had been going on behind the scenes. Make sure you stay until the end, as you don't want to miss the details of the official statement of both Chamath and Clover Health CEO Vivek Garipalli. On 5th February 2020, Clover disclosed that they received a letter from the SEC. It informed them about an investigation following the allegations the hedge fund Hindenburg had published the day before. SEC hit the ground running and requested documents and data preservation dating back to January 2020 relating to the allegations. The Nashville-based Medicare had no choice but to cooperate with the investigation. Let's see how well Chamath and Garipalli's firm kept a poker face.

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