Kessler Topaz Meltzer & Check, LLP Reminds Investors of Deadline for Securities Fraud Class Action Lawsuit Filed Against MultiPlan Corporation

The law firm of Kessler Topaz Meltzer & Check, LLP announces that a securities fraud class action lawsuit has been filed against MultiPlan Corporation (NYSE: MPLN; MPLN.WS) (“MultiPlan”) f/k/a Churchill Capital Corp. III (“Churchill III”) on behalf of: (1) those who purchased or acquired MultiPlan securities between July 12, 2020 and November 10, 2020, inclusive (the “Class Period”); and (2) all holders of Churchill III Class A common stock entitled to vote on Churchill III’s merger with and acquisition of Polaris Parent Corp. and its consolidated subsidiaries consummated in October 2020 (the “Merger”).

Deadline Reminder: Investors who purchased or acquired MultiPlan securities during the Class Period may, no later than April 26, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. [phone] or Adrienne Bell, Esq. [phone]; toll free at [phone]; via e-mail at [e-mail]; or click https://www.ktmc.com/multiplan-corp-securities-class-action-lawsuit?ut ....

Churchill III was formed in October 2019 as a special purpose acquisition vehicle. On February 14, 2020, Churchill III completed its initial public offering, selling 110 million ownership units to investors for gross proceeds of $1.1 billion (the “IPO”). Pursuant to the IPO prospectus, Churchill III was required to acquire a target business with an aggregate fair market value of at least 80% of the assets held in trust from the IPO proceeds and to do so within two years of the IPO.

The Class Period commences on July 12, 2020, when Churchill III and MultiPlan, a healthcare cost specialist, issued a joint press release announcing their agreement to combine. The Merger, initially valued at $5.7 billion, would be funded by the IPO proceeds as well as billions of dollars in new debt and equity issuances.

On September 18, 2020, Churchill III issued the proxy statement for the Merger which urged shareholders to vote in favor of the deal (the “Proxy”). The Proxy stated that Churchill had identified MultiPlan as a potential acquisition target soon after the IPO. On the basis of the Proxy, on October 7, 2020, shareholders voted to approve the Merger at a special shareholders meeting. Because of the Proxy, shareholders were prevented from the fully informed opportunity to redeem their shares as was their right. The shares subject to redemption were valued in the Proxy at approximately $10 per share.