Cano Health after-M&A-talks Sell Off Case

On December 7, 2022, Bloomberg reported that Daniel Loeb’s Third Point sold its stake in Cano Health Inc. (CANO) amid mounting concerns about the healthcare provider’s liquidity.

Further, BBG reported that some of Cano Health’s biggest creditors are in the early stages of organizing ahead of potential debt discussions.

Earlier, after CANO reported weaker Q3 results and revised full-year guidance, multiple equity analysts cut their ratings on the Company. Cano had $24 million of cash on hand, down from roughly $163 million at the end of last year.

Going back to September 22, 2022,  The Wall Street Journal reported that CVS Health and Humana were in talks to buy out Cano. Since then, there's been no solid news about the matter, so it rises questions about whether these deals were on agenda at all.

Taking all the facts into account, Investors have all grounds to suspect that multiple violations took place starting from misleading statements, stock price manipulations, and fraud.

Case Status

Attorney Investigation

Alleged Offence

Mismanagement,

Misleading Statements,

Financial Misrepresentation,

Fraud,

Failure to Disclose,

Price manipulation,

Insider Trading,

Malpractice,

Negligence,

Breach of Fiduciary duty,

Omissions

Suspected Party

Directors,

Management,

Shareholder,

Influencer,

Investment Bank,

Service Provider,

Hedge Fund

Security Type

Stocks

Trade Direction

Long

Shock Event Date

12/07/2022

Cano Health after-M&A-talks Sell Off Case

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