#United States #New York #Class Action #Securities Fraud #ModivCare

Important Notice to ModivCare Inc. Investors

Investors of ModivCare Inc. (NASDAQ: MODV) are being prompted to take immediate action due to the announcement of a class action securities lawsuit against the company. Levi & Korsinsky LLP has alerted investors to this critical timeframe, which requires potential claimants to reach out no later than March 31, 2025. In light of the recent allegations of securities fraud impacting ModivCare, it is crucial for investors to understand their rights and the potential compensation available for their losses.

Background of the Lawsuit

The class action lawsuit is driven by claims that ModivCare's operations have been marred by false statements and omissions regarding its performance and business prospects. According to the case details, the lawsuit asserts that statements made by the defendants were misleading, especially concerning the company's Non-Emergency Medical Transportation (NEMT) segment.

This segment's contracts allegedly contributed to a significant decline in the company’s free cash flow due to unfavorable renegotiations and pricing structures. As a result, it has been claimed that:

• - ModivCare’s adjusted EBITDA was negatively impacted.
• - The firm faced liquidity challenges.
• - The reassurances about business operations and future prospects were unfounded and materially false.

Given the implications of these claims, investors who suffered losses from November 3, 2022, to September 15, 2024, are advised to act swiftly to preserve their rights.

Steps for Investors

Investors are encouraged to follow the link to the Levi & Korsinsky website to gather more information and potentially be contacted by a representative of the firm. Additionally, investors can express their interest directly by emailing Joseph E. Levi, Esq. at the provided email address or calling the office directly.

Legal representation in such cases typically assures investors that they can pursue claims without incurring upfront costs. Specifically, since there are no costs for class members, individuals should consider submitting their information to ensure they are included in the lawsuit proceedings.

Levi & Korsinsky’s Track Record

Levi & Korsinsky has built a noteworthy reputation over the past two decades by successfully representing shareholders in complex securities litigation. The firm has recovered hundreds of millions of dollars for wronged investors, showcasing its robust history and extensive experience in this challenging area of law. With a dedicated team of over 70 employees, they stand ready to assist clients navigating these turbulent waters. Notably, the firm has been recognized consistently as one of the top firms within the ISS Securities Class Action Services' Top 50 Report.

Conclusion

For investors of ModivCare Inc., time is of the essence. The deadline of March 31, 2025, looms large, and the opportunity to engage in this class action could play a critical role in recovering losses. By taking proactive measures now, affected investors can secure their rights and potentially benefit from a settlement arising from this prominent lawsuit. If you believe you have been impacted, do not hesitate to explore your options with Levi & Korsinsky to ensure you are represented in this collective fight for justice.