StockNews.AI
MODV
StockNews.AI
96 days

MODIVCARE ALERT: Bragar Eagel & Squire, P.C. is Investigating ModivCare, Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

1. ModivCare faces a class action lawsuit alleging fiduciary duty breaches. 2. Claims involve misleading statements about cash flow stability. 3. Stock price significantly dropped following negative financial updates. 4. Guidance cut from $185-$195 million to $170-$180 million. 5. Investors may have grounds for potential legal action.

4m saved
Insight
Article

FAQ

Why Bearish?

The class action lawsuit and historical stock decline suggest ongoing investor distrust.

How important is it?

The lawsuit's implications affect investor sentiment and may impact stock value.

Why Long Term?

Ongoing legal issues may hurt ModivCare's market reputation and stock stability for a while.

Related Companies

CVNAAMHHCA
NEW YORK, May 15, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against ModivCare, Inc. (NASDAQ: MODV) on behalf of long-term stockholders following a class action complaint that was filed against ModivCare on January 29, 2025 with a Class Period from November 3, 2022, to September 15, 2024. Our investigation concerns whether the board of directors of ModivCare have breached their fiduciary duties to the company. The Class Action alleges that, during the Class Period, Defendants made misleading statements and omissions regarding the ability of its contracts to stabilize cash flow. As the alleged truth about ModivCare's business reached the market, the price of ModivCare's stock suffered significant declines, harming investors. For example, on September 16, 2024, before market hours, ModivCare filed a press release on a Form 8-K with the Securities and Exchange Commission, titled "Modivcare Provides Financial Update." Therein, the Company revised its 2024 Adjusted EBITDA guidance range from $185-$195 million to $170-$180 million, "primarily due to NEMT segment pricing accommodations made to strategically retain and expand key customer relationships." On this news, the Company's stock price fell $1.40 or nearly 10%, from $14.12 per share on September 15, 2024, to close at $12.72 per share on September 16, 2024, on unusually high trading volume. If you are a long-term stockholder of ModivCare, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you. About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes. Follow us for updates on LinkedIn, X, and Facebook, and keep up with other news by following Brandon Walker, Esq. on LinkedIn and X. Contact Information: Bragar Eagel & Squire, P.C.Brandon Walker, Esq.Marion Passmore, Esq.(212) 355-4648investigations@bespc.comwww.bespc.com

Related News