ModivCare Investors Alerted to Class Action Lawsuit Deadlines and Allegations Against Company

Alert for ModivCare Investors

The Gross Law Firm has recently issued a notification for shareholders of ModivCare Inc. (NASDAQ: MODV) regarding a class action lawsuit. Investors who purchased shares of ModivCare during the designated class period, which spans from November 3, 2022, to September 15, 2024, are strongly encouraged to reach out for more information and potential lead plaintiff appointments.

Legal Background

According to the filed complaint, certain defendants have been accused of making false statements and failing to disclose crucial information affecting ModivCare's performance. Specifically, allegations exist that issues with contracts related to the Non-Emergency Medical Transportation (NEMT) segment led to a downturn in the company's free cash flow. The complaints suggest that:

1. Contract Renegotiations: ModivCare's contract renegotiations and required pricing accommodations negatively impacted their adjusted EBITDA.

2. Liquidity Challenges: The company has faced liquidity concerns, adding pressure to its operations and overall health.

3. Misleading Statements: The defendants are accused of providing overly optimistic statements regarding the company's business operations and future prospects, which were fundamentally misleading.

This legal action opens the door for investors who suffered financial losses as a result of these statements to seek recovery.

Important Deadlines

Investors should act quickly: the deadline for shareholders wishing to register in this class action lawsuit is set for March 31, 2025. It is crucial for affected shareholders to begin the registration process as soon as possible to avoid missing out on potential recovery options. Participation does not require a commitment to become a lead plaintiff, which can ease concerns about the involvement level for various investors.

Steps for Shareholders

After registering as a shareholder who purchased shares of MODV during the specified class period, participants will gain access to a portfolio monitoring software that provides regular updates about the lawsuit's progress. This may be particularly beneficial for investors looking to stay informed throughout the legal proceedings without incurring any costs or obligations.

Why Choose The Gross Law Firm?

The Gross Law Firm stands as a nationally recognized class action law firm dedicated to protecting the rights of investors. Their mission focuses on ensuring that businesses uphold their responsibilities and engage in ethical practices. They seek to represent investors who have endured losses resulting from misleading declarations or notable omissions that inflated the stock value artificially. Legal representation by such a reputed firm provides an additional layer of confidence for those involved in this case.

Contact Information

For more information, affected shareholders can reach out directly to The Gross Law Firm at their New York office: 15 West 38th Street, 12th Floor, New York, NY 10018. Investors can also email the firm at [email protected] or call them at (646) 453-8903 for inquiries regarding the lawsuit or assistance with the registration process.

This class action could play a pivotal role in providing redress for ModivCare investors who feel misled and financially impacted by the company's prior operations and communications. Shareholders are urged not to delay in seeking more information and should consider their options as the March deadline looms closer.