Algorithms powering John Ruiz's company being probed by SEC, Justice Department [Yahoo! Finance]
MSP Recovery, Inc. - Class A (LIFW)
Company Research
Source: Yahoo! Finance
could spot billions of dollars in improperly paid health-insurance claims that would eventually yield significant profits for investors. Now, those problem-solving algorithms — the core of his Coral Gables-based company, LifeWallet — are being investigated by federal authorities, according to the firm's recent filings with the U.S. Securities and Exchange Commission. LifeWallet, in an annual report filed in April , revealed that federal civil and criminal subpoenas were seeking corporate documents about the company's data analytics as well as its stock price decline, marketing materials and agreements offered to potential investors. Those revelations — which hint at federal investigators' focus on whether LifeWallet may have misled investors — come as the company announced 2023 revenue of little more than $7.7 million, far less than what the company projected before it went public in 2022. LifeWallet also reported that its net loss last year had ballooned to $835 million, more t
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News
- UPDATE: LifeWallet Announces a Comprehensive Settlement with a Group of Affiliated Property & Casualty Insurers GlobeNewswire
- LifeWallet Announces a Comprehensive Settlement with 10 Affiliated Property & Casualty Insurers, Doing Business in 15 States [Yahoo! Finance]Yahoo! Finance
- LifeWallet Announces a Comprehensive Settlement with 10 Affiliated Property & Casualty Insurers, Doing Business in 15 StatesGlobeNewswire
- LifeWallet Announces Fiscal Year and Fourth Quarter 2023 Financial Results [Yahoo! Finance]Yahoo! Finance
- LifeWallet Announces Fiscal Year and Fourth Quarter 2023 Financial ResultsGlobeNewswire
LIFW
Sec Filings
- 5/3/24 - Form 424B3
- 5/3/24 - Form 424B3
- 5/3/24 - Form 424B3
- LIFW's page on the SEC website