Investors of ModivCare Inc. Urged to Join Class Action Litigation

Class Action Lawsuit Against ModivCare Inc.

Investors who have suffered losses in the stock performance of ModivCare Inc. (NASDAQ: MODV) are being urged to take action. The Gross Law Firm has recently issued a notice inviting those affected to participate in a class action lawsuit against the company. This notice is crucial for individuals who purchased shares of ModivCare during the class period from November 3, 2022, to September 15, 2024.

Background Information

The legal proceedings stem from allegations that ModivCare, a company known for its non-emergency medical transportation services, made misleading statements relating to its business operations. According to the filed complaint, several key contracts in ModivCare's Non-Emergency Medical Transportation (NEMT) segment adversely impacted the company's financial health. The consequences were significant, leading to negative effects on free cash flow, issues with contract renegotiations, and unfavorable pricing adjustments.

The complaint underscores three primary points of concern:
1. Adjusted EBITDA Impact: ModivCare's financial reports allegedly did not accurately reflect the company's compromised adjusted earnings before interest, taxes, depreciation, and amortization due to these contract-related challenges.
2. Liquidity Issues: Allegations point out that ModivCare's financial stability was compromised, resulting in insufficient liquidity to manage operational needs.
3. Misleading Positive Statements: The company's executives reportedly made positive assertions about its operations and future prospects, which were ultimately unfounded and lacked a reasonable basis.

How to Participate

If you are a shareholder of ModivCare who purchased shares within the specified timeframe, you are encouraged to contact The Gross Law Firm regarding potential lead plaintiff appointments. Notably, being appointed as a lead plaintiff is not required to seek recovery in this case.

The deadline for registration is March 31, 2025, and shareholders should not procrastinate in registering to ensure their participation in the class action. The Gross Law Firm will provide enrolled individuals with updates on the case through a monitoring software system, keeping them informed throughout the litigation process.

The Importance of Taking Action

Taking action is crucial for investors affected by alleged corporate misconduct. By participating in this class action, shareholders may be able to recover partial or full financial losses resulting from ModivCare’s significant downturn in stock value, attributed to the misleading information disseminated by the company.

Investors must remain vigilant about their rights and seek legal avenues to protect their investments. The Gross Law Firm is known for its strong reputation in handling class action lawsuits and is dedicated to safeguarding investor rights against deceptive practices.

Contact information for The Gross Law Firm is provided for interested shareholders:

- Address: 15 West 38th Street, 12th Floor, New York, NY 10018
- Email: info@grosslawfirm.com
- Phone: (646) 453-8903

Conclusion

As the March 31, 2025 deadline approaches, affected ModivCare shareholders should seize this opportunity to join the class action against the company. This legal action represents an avenue for investors to seek justice and potentially recover their financial losses, reinforcing the importance of corporate accountability and investor protection in today’s market.