The suit asks the New York Supreme Court to stop the planned reverse merger. Social Capital and Clover Health. In another class action filed on October 29, 2020, a shareholder in Social Capital Holdings Hedosophia Corp. III ("Social Capital") filed a class action lawsuit against the company and its board on behalf of all public Social Capital stockholders. Again, the complaint alleges the SPAC's directors breached their fiduciary duties to public stockholders in their efforts to sell the company to Clover Health Investments, Corp. ("Clover Health"), a technology-focused Medicare Advantage healthcare insurer that uses data and a proprietary platform to control cost. The suit asks the New York Supreme Court to stop the planned reverse merger. The plaintiff alleges that the future financial success of the combined company, spurred on by Social Capital's cash, will be at the expense of Social Capital's shareholders, because they will own only approximately 18.7% of the combined company.