1. ModivCare faces allegations of misleading statements affecting financial metrics. 2. Complaints indicate free cash flow deterioration in NEMT segment contracts. 3. Class period for shareholder claims is from November 2022 to September 2024. 4. Gross Law Firm invites affected shareholders to register for involvement. 5. Deadline for lead plaintiff registration is March 31, 2025.
The allegations against MODV suggest significant financial mismanagement, which may lead to regulatory scrutiny and decreased investor confidence, similar to cases where stock prices plummeted following class-action lawsuits.
The ongoing lawsuit could materially affect MODV's stock price and investor sentiment, causing potential volatility as more information unfolds.
An immediate impact is anticipated due to negative sentiment from the lawsuit, mirroring past incidents where preliminary legal issues led to stock declines within weeks.
The Gross Law Firm issues the following notice to shareholders of ModivCare Inc. (NASDAQ: MODV).
Shareholders who purchased shares of MODV during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
https://securitiesclasslaw.com/securities/modivcare-inc-loss-submission-form/?id=134593&from=4
November 3, 2022 to September 15, 2024
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.
March 31, 2025. Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/modivcare-inc-loss-submission-form/?id=134593&from=4
Once you register as a shareholder who purchased shares of MODV during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is March 31, 2025. There is no cost or obligation to you to participate in this case.
The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
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Phone: (646) 453-8903
The Gross Law Firm