1. ModivCare faces a class action lawsuit for alleged securities fraud. 2. Claims relate to misleading statements affecting cash flow and liquidity. 3. Investors can file claims up to March 31, 2025. 4. The firm has experience in winning securities litigation cases. 5. Investors may join without incurring costs or fees.
The lawsuit suggests serious governance issues and declining financial health, likely leading to stock price drops. Similar cases, like with other firms facing fraud allegations, often result in negative market sentiment.
The nature of the lawsuit directly impacts investor confidence, holding significant weight in ModivCare's future stock performance. Legal challenges can deter potential investors and have immediate financial repercussions.
The immediate focus will be on ongoing proceedings and how they impact investor sentiment. Historically, stock reactions to litigation announcements can be swift and negative.
Levi & Korsinsky, LLP notifies investors in ModivCare Inc. ("ModivCare" or the "Company") (NASDAQ: MODV) of a class action securities lawsuit.
The lawsuit seeks to recover losses on behalf of ModivCare investors who were adversely affected by alleged securities fraud between November 3, 2022 and September 15, 2024. Follow the link below to get more information and be contacted by a member of our team:
ModivCare Lawsuit Submission Form
MODV investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
According to the filed complaint, defendants made false statements and/or concealed that certain contracts used in ModivCare's NEMT segment caused the Company's free cash flow to deteriorate and as a result, (1) contract renegotiations and pricing accommodations negatively impacted the Company's adjusted EBITDA; (2) the Company had insufficient liquidity; and (3) defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in ModivCare during the relevant time frame, you have until March 31, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP