• Alignment Healthcare (ALHC) has filed a motion to dismiss a whistleblower lawsuit in which a former company executive accused the Medicare-driven health insurer of manipulating its finances to boost its stock price.
• Shares of the Orange, California-based firm plunged in early July after media reports indicated that ex-employee Hakan Kardes filed the case in a federal court in Santa Ana. Citing a court filing, Bloomberg reported that the company has dismissed the allegations as a “case of sour grapes.”
• “A third-party investigation found that Hakan Kardes’ Sarbanes-Oxley (SOX) whistleblower claims are false; there is no basis for his allegations," Alignment (ALHC) said in a statement.
• The company cited multiple reasons for the dismissal, including that the plaintiff filed whistleblower claims too late, and added that Kardes sued only after realizing that an in-house restructuring initiative didn’t roll out as he expected.

Fresh Stock Ideas, Every Day

Explore diverse investing perspectives with daily analysis from experts across the market.

Read Full Story: https://news.google.com/rss/articles/CBMihwFBVV95cUxPeHFIdFR0UHNpODRtVFJpZ2I2...