NEWTOWN, Pa., July 31, 2023 (GLOBE NEWSWIRE) -- The law firm of Edelson Lechtzin LLP is investigating securities fraud and breach of fiduciary duty claims on behalf of former shareholders of Lionheart Acquisition Corporation II (Nasdaq: LCAPU, LCAP), a special purpose acquisition company (“SPAC”), who acquired Lionheart shares before the closing of its business combination with MSP Recovery, LLC (Nasdaq: MSPR), on or before May 23, 2022. Immediately following the merger, MSPR stock was trading at more than $10.00 per share.
LifeWallet acquires assignments of recoveries from health insurance payors, healthcare providers and others, and uses its proprietary multi-level data analytics system to identify and then works to secure recoveries from responsible parties. LifeWallet typically obtains the assignment of all claim rights and pays out 50% of such recoveries (the “Assignor Interest”) as a contingent payment and retains the other 50% (the “MSPR Recovery Proceeds”). LifeWallet, a Delaware corporation, is headquartered in Coral Gables, Florida.
On January 2, 2023, MSP Recovery announced that it would begin doing business as LifeWallet and changed its ticker symbol to Nasdaq: LIFW. LifeWallet common stock is currently trading at around $0.22 per share.
Lionheart Acquisition Corporation II investors may have claims based on alleged false and misleading statements and/or material omissions contained in the documents used to solicit shareholder approval for the business combination between Lionheart Acquisition Corporation II and MSP Recovery, LLC. Please contact Edelson Lechtzin LLP at 1-844-696-7492 to discuss your investment losses, or by e-mail at elechtzin@edelson-law.com or medelson@edelson-law.com, or you can submit your information online HERE.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: elechtzin@edelson-law.com or medelson@edelson-law.com
Web: www.edelson-law.com
About Edelson Lechtzin LLP
Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.
This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
