Clarivate Plc

According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors 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;
(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.