Important Notice to ModivCare Inc. Shareholders Regarding Class Action Rights

Attention ModivCare Shareholders: Important Legal Notice

Investors in ModivCare Inc. (NASDAQ: MODV) who purchased shares during the defined class period of November 3, 2022, to September 15, 2024, should be aware of significant allegations surrounding the company's financial disclosures. The Gross Law Firm is reaching out to shareholders to encourage them to understand their rights regarding a possible class action lawsuit.

Allegations of Misconduct

According to the filed complaint, it is alleged that ModivCare's management made misleading statements regarding the company's cash flow and financial health. Key points raised in the complaint include:

1. Deteriorating Free Cash Flow: Specific contracts tied to ModivCare's Non-Emergency Medical Transportation (NEMT) segment were cited as having a negative impact on the company’s free cash flow.
2. False Statements: The management allegedly made several statements that downplayed the company's financial struggles. These statements are claimed to have influenced investor decisions based on misleading information.
3. Liquidity Issues: The firm indicated that there were liquidity challenges that were not adequately communicated to shareholders, leaving them vulnerable to unexpected financial downturns.
4. Impact on EBITDA: The adjustments in contract negotiation and pricing led to a detrimental effect on the company’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA).

Call to Action for Shareholders

Shareholders are urged to act quickly as there is a deadline to register for participation in the potential class action. The deadline to submit your information is set for March 31, 2025. Once registered, shareholders will benefit from portfolio monitoring services that keep them updated on the progress of the case at no additional cost.

How to Register

To begin the registration process, investors are encouraged to follow this link to submit their information: Registration Link. This registration is crucial to ensure that affected investors are adequately represented and informed as the situation develops.

The Role of The Gross Law Firm

The Gross Law Firm is recognized for protecting investor rights and has established a strong track record in class action lawsuits. Their mission is to help investors recover losses that stem from corporate misconduct, deceptive practices, and violations of securities laws. Investors can rest assured that there is no cost or obligation to participate in this case, making it an accessible option for shareholders.

For inquiries or more information, contact:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: info@grosslawfirm.com
Phone: (646) 453-8903

This case serves as a reminder for investors to stay informed about their rights and assert them promptly when they believe they have been misled or defrauded. The increasing scrutiny on corporate governance practices underscores the importance of transparency and accountability in publicly traded companies.

Conclusion

As an investor in ModivCare Inc., your financial interests should be a priority. Don’t delay in understanding your rights and taking necessary actions to safeguard your investments. Connect with The Gross Law Firm today to make sure your voice is heard in this important legal matter.