1. Rosen Law Firm announces a class action against ModivCare Inc. 2. Investors from the Class Period may seek compensation without costs. 3. Claims involve misleading statements affecting ModivCare's performance and liquidity. 4. March 31, 2025, is the deadline for lead plaintiff applications. 5. Potential recovery hinges on substantiated claims of investor losses.
Legal action and claims of misleading statements usually harm stock value significantly. Historical examples include companies like Enron and Theranos that faced similar legal challenges resulting in a sharp decline in stock prices.
The ongoing lawsuit and claims of business mismanagement represent serious risks to MODV's reputation and financial stability. Given the magnitude of allegations regarding misleading information, investor sentiment will likely be negatively impacted.
The nature of class actions typically creates immediate investor uncertainty. Similar past incidents have led to quick reactions in stock prices.
Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of ModivCare Inc. (NASDAQ: MODV) between November 3, 2022 and September 15, 2024, both dates inclusive (the "Class Period"), of the important March 31, 2025 lead plaintiff deadline.
If you purchased ModivCare securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
To join the ModivCare class action, go to https://rosenlegal.com/submit-form/?case_id=34493 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 31, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements as well as failed to disclose adverse facts about ModivCare's business, operations, and prospects. Specifically, defendants failed to disclose that certain contracts used in ModivCare's non-emergency medical transportation ("NEMT") segment caused ModivCare's free cash flow to deteriorate and that, as a result: (i) contract renegotiations and pricing accommodations negatively impacted ModivCare's adjusted EBITDA; (ii) ModivCare had insufficient liquidity; and (iii) defendants' positive statements about ModivCare's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the ModivCare class action, go to https://rosenlegal.com/submit-form/?case_id=34493 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed.
Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
Email: [email protected]
Website: www.rosenlegal.com