A securities class action has been filed against MSP Recovery, Inc. (LIFW) on behalf of persons or entities other than Defendants who urchased or otherwise acquired publicly traded MSP Recovery securities between April 28, 2022 through August 17, 2023. This case has been filed in the USDC – S.D.FL.
On August 1, 2023, after the market closed, the Company filed a current report in which it announced, among other things, that the Securities and Exchange Commission (the “SEC”) had initiated an investigation of the Company and its merger with Lionheart Acquisition Corporation II, among other matters, and subpoenaed various documents. Further, MSP Recovery announced that it had received a subpoena from federal prosecutors in connection with a grand jury investigation in the U.S. District Court for the Southern District of Florida.
On this news, MSP Recovery’s stock fell 12% to close at $0.18 on August 2, 2023.