NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP reminds investors who purchased ModivCare, Inc. (“ModivCare” or the “Company”) (NASDAQ:MODV) securities to contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to the securities fraud class action lawsuit against the Company.
The lawsuit was filed on behalf of investors who acquired ModivCare securities from November 3, 2022, through September 15, 2024 (“the Class Period”). Investors have until March 31, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that defendants, throughout the Class Period, failed to disclose that certain contracts used in ModivCare’s NEMT segment caused the Company’s free cash flow to deteriorate and that, as a result, (1) contract renegotiations and pricing accommodations negatively impacted the Company’s adjusted EBITDA; and (2) the Company had insufficient liquidity.
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Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
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