MSP Recovery, Inc. Announces Conclusion of SEC Investigation: No Intention to Recommend Enforcement Action Against the Company, its CEO, John H. Ruiz, or its Officers

Core Viewpoint - The U.S. Securities and Exchange Commission (SEC) has concluded its investigation into MSP Recovery, Inc. and will not recommend enforcement action against the Company or its executives [1][3]. Group 1: Investigation Details - The SEC initiated an investigation on August 11, 2022, focusing on the Business Combination with Lionheart Acquisition Corporation II, which was completed on May 23, 2022 [2]. - The investigation included requests for documents related to financial results, investor agreements, and data analytic platforms [2]. - MSP Recovery and its key personnel received subpoenas regarding projections, accounting, and valuation of certain assets, leading to the determination that quarterly financial statements for June 30, 2022, and September 30, 2022, required restatements [2]. Group 2: Company Response - The Company fully cooperated with the SEC, providing extensive data, documents, and access to personnel [3]. - Chairman and CEO John H. Ruiz emphasized the Company's commitment to transparency and cooperation throughout the investigation [3]. - The conclusion of the investigation allows MSP Recovery to continue its operations without the burdens of ongoing regulatory scrutiny [3]. Group 3: Company Overview - MSP Recovery, founded in 2014, specializes in Medicare, Medicaid, and commercial reimbursement recovery, utilizing data-driven solutions to improve the healthcare reimbursement system [4]. - The Company offers innovative technologies and comprehensive solutions across various industries, including healthcare and legal [4].