Shares of Alignment Healthcare fell as much as 19% on Wednesday after Modern Healthcare reported the company is facing a whistleblower lawsuit. The publication said a former executive at the California-based company claims Alignment manipulated its finances to increase its stock price, citing the lawsuit filed Tuesday. A spokesperson for Alignment told Bloomberg the company believes these allegations are wholly without merit and that it intends to vigorously defend itself. The spokesperson said Hakan Kardes voluntarily resigned from the company in April 2025.
Alignment Healthcare LLCWhistleblower lawsuit alleging financial manipulation to inflate stock price.