Important Deadline Approaches for Investors in ModivCare Class Action Lawsuit
Deadline Approaches for ModivCare Investors
In a recent announcement, law firm Levi & Korsinsky, LLP has brought important news for investors in ModivCare Inc. (NASDAQ: MODV). A class action lawsuit has been filed against the Company, and the deadline for impacted investors to join is set for March 31, 2025.
Overview of the Lawsuit
The class action targets investors who believe they suffered losses due to alleged securities fraud between November 3, 2022, and September 15, 2024. The complaint suggests that ModivCare made misleading statements regarding its financial health, particularly concerning certain contracts in its Non-Emergency Medical Transportation (NEMT) segment. As such, it is claimed these inaccuracies had detrimental effects on the Company’s free cash flow, adjusted EBITDA, and overall liquidity.
Key Allegations
According to the details of the complaint:
1. The renegotiation and pricing adjustments of contracts negatively influenced the Company’s adjusted EBITDA.
2. There were claims of insufficient liquidity that misrepresented the actual financial standing of ModivCare.
3. Management's optimistic public statements about the Company were either misleading or unfounded.
These issues have raised concerns among investors about the reliability of ModivCare's public disclosures and warrant the current class action filing.
Next Steps for Investors
Investors who experienced losses during the aforementioned period are encouraged to act swiftly. The step to participate does not require being a lead plaintiff; however, requesting lead plaintiff status by the March 31, 2025, deadline may offer additional rights. Participation in the lawsuit comes without cost, as class members may receive compensation without defaulting to any penalties or costs.
Why Choose Levi & Korsinsky?
Levi & Korsinsky has a well-established history in securities litigation, securing substantial settlements for investors over two decades. The firm's commitment to its clients and extensive experience in complex securities cases make it a formidable player in this space. Notably, Levi & Korsinsky has consistently ranked among the top firms in securities litigation by ISS Securities Class Action Services.
How to Get Involved
To learn more about this lawsuit and your rights as an investor, you can follow the link to the submission form available on their website. Those interested can also directly reach out to Joseph E. Levi or Ed Korsinsky via email or phone for further assistance.
In view of the upcoming deadline, affected investors are advised to act promptly to ensure their rights are protected.
Contact Information
- - Levi & Korsinsky, LLP
New York, NY 10004
Email: info@zlk.com
Phone: (212) 363-7500
Fax: (212) 363-7171
Website: www.zlk.com
The firm emphasizes that eligible class members have nothing to lose by participating, shedding light on necessary actions taken towards financial recovery.
Topics Financial Services & Investing）
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