1. Shareholders of MODV can join a class action lawsuit for potential recovery. 2. Allegations include misleading statements affecting free cash flow and liquidity. 3. Contracts in MODV's NEMT segment are implicated in financial deterioration. 4. Deadline for shareholders to register is March 31, 2025. 5. Class action aims to challenge potentially deceptive practices by MODV.
The misleading statements and allegations suggest financial instability, which typically lowers stock value. Similar cases historically have resulted in declines in share prices following lawsuits.
Given the allegations and the nature of the class action, this news could significantly affect investor confidence and share price. Misleading statements in such cases commonly result in damaged reputations and financial implications.
The upcoming deadline for the lawsuit registration may prompt immediate reactions in the stock. Historical patterns show stocks facing litigation often react adversely in the short term.
NEW YORK, March 3, 2025 /PRNewswire/ -- 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.
CONTACT US HERE: https://securitiesclasslaw.com/securities/modivcare-inc-loss-submission-form/?id=132963&from=4
CLASS PERIOD: November 3, 2022 to September 15, 2024
ALLEGATIONS: 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.
DEADLINE: 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=132963&from=4
NEXT STEPS FOR SHAREHOLDERS: 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.
WHY GROSS LAW FIRM? 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 led to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: info@grosslawfirm.com
Phone: (646) 453-8903
SOURCE The Gross Law Firm