MSP Recovery, led by John Ruiz, faces substantial uncertainty about its viability, according to its 2024 SEC filing. After years of weak earnings, the company is considering restructuring to avoid defaulting on loans. It has initiated a plan to establish a subsidiary that will independently work to recover outstanding claims, as concerns from auditors worsen. With a valuation peak of over $32 billion following its public offering in May 2022, the company now suggests a bleak future, indicating potential closure. Ruiz has not commented on these developments.
Almost certainly, the company is going to be going out of business,
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