Lowey Dannenberg P.C. is investigating potential federal securities-law violations by Alignment Healthcare, Inc. (NASDAQ: ALHC) after a former chief transformation officer filed a whistleblower lawsuit alleging that the company manipulated its finances to increase its stock price and executive compensation. The lawsuit alleges Alignment classified $8 million to $10 million in routine operating expenses, including software maintenance and production support, as capital expenditures within its technology function. That treatment allegedly inflated adjusted EBITDA and helped the company report its first full year of positive adjusted EBITDA as a public company. Alignment shares fell $4.02, or approximately 16.7%, to close at $20.03 on July 8, 2026, after reports of the lawsuit emerged. Lowey Dannenberg partner Andrea Farah said the investigation is examining whether Alignment and its executives gave investors accurate and complete information about the company.