Labaton Keller Sucharow serves as Counsel in a securities class action against Clarivate PLC (Clarivate) and certain of its officers and underwriters (collectively, Defendants).  The lawsuit alleges that Defendants violated Sections 11, 12(a)(2) and 15 of the Securities Act of 1933, injuring shareholders who purchased Clarivate’s common stock pursuant and traceable to the registration statements and prospectuses (collectively, the Offering Documents) issued in connection with Clarivate’s June 10, 2021 and September 10, 2021 public offerings (collectively, the Offerings).

Clarivate is a global information services and analytics company organized under the laws of Jersey, Channel Islands, with a headquarters in Philadelphia, Pennsylvania.  The Third Amended Complaint, filed on March 20, 2026, alleges that Clarivate acquired an intellectual property software and tech-enabled services company, CPA Global, which, unbeknownst to investors, possessed a phantom equity compensation plan—a plan that enabled CPA Global employees to obtain the benefits of share price appreciation without ownership of actual shares.  As revealed in Clarivate’s February 3, 2022 financial restatement, Clarivate failed to properly account for approximately $200 million of stock-based awards to CPA Global employees under the phantom equity compensation plan, recording such awards as goodwill, rather than as an expense, in violation of generally accepted accounting principles.  Clarivate, prior to the restatement and Offerings, purported that its financial controls and procedures were effective and its financial statements were fairly stated.  These representations were made in Clarivate’s May 10, 2021 10-K/A, incorporated by reference in the Offering Documents.

The case is Constr. Indus. & Laborers Joint Pension Tr. For S. Nev. Plan A v. Clarivate PLC, No. 220601097, in the Court of Common Pleas of Philadelphia County, Pennsylvania – Civil Trial Division.  Currently before Judge James C. Crumlish are the parties’ briefings on Defendants’ preliminary objections to the Third Amended Complaint.  Labaton Keller Sucharow represents Plaintiff Construction Industry & Laborers Joint Pension Trust for Southern Nevada Plan A.