ModivCare Investors Invited to Join Class Action Lawsuit by Levi & Korsinsky

ModivCare Investors: Important Class Action Lawsuit Update

Levi & Korsinsky, LLP has issued crucial information for investors in ModivCare Inc. regarding the ongoing class action securities lawsuit. This legal action primarily concerns investors who experienced financial losses tied to ModivCare due to suspected securities fraud, with events detailed between November 3, 2022, and September 15, 2024. As a shareholder, you may have been affected, and understanding your rights is essential.

Class Action Overview

The lawsuit seeks justice for investors who suffered losses attributed to misleading information from ModivCare's management. Specifically, the allegations assert that ModivCare officials made false statements and omitted critical facts regarding the company's financial health. These misrepresentations are said to have materially impacted the company's cash flow and overall market position.

Key Allegations

According to the filed complaint, ModivCare's management misinformed investors about three specific issues:
1. Deteriorating Cash Flow - Allegedly, contracts within the Non-Emergency Medical Transportation (NEMT) segment significantly weakened the company's free cash flow.
2. Contract Renegotiations - It is claimed that necessary renegotiations of contracts negatively influenced the Company’s adjusted EBITDA.
3. Liquidity Issues - Defendants were purportedly deceptive about the company’s liquidity, leading to a lack of transparency regarding fiscal stability.

Why You Should Act Now

Investors have a critical deadline approaching: March 31, 2025. If you qualify as a class member, you may request the Court to appoint you as a lead plaintiff. However, participating in the class does not require you to take on this role to share in any potential recovery from a successful outcome of the lawsuit.

Furthermore, there's no cost out of pocket for class members. If you are involved, you can seek compensation without incurring fees, making this a risk-free opportunity for recovery of your losses.

No Fee Participation

Levi & Korsinsky emphasizes their commitment to representing affected investors without upfront costs. Their reputation over the last two decades highlights their success, with the firm securing hundreds of millions in settlements for shareholders in similar situations. Their experienced team, having been consistently ranked among the top securities litigation firms in the U.S., aims to ensure your voice is heard.

Next Steps

To find out more about your rights as a ModivCare investor and to communicate with the Levi & Korsinsky legal team, please visit their website or contact them directly. For your convenience, Joseph E. Levi, Esq., and Ed Korsinsky, Esq. can be reached at:

- Email: [email protected]
- Phone: (212) 363-7500

A favorable ruling could provide much-needed compensation to those affected, making it vital to act swiftly before the deadline passes. Stay informed and ensure your rights as an investor are safeguarded.

Conclusion

This class action lawsuit signifies an essential moment for ModivCare investors. With a pending deadline, active participation is crucial. Levi & Korsinsky stands ready to assist you in your legal journey, ensuring those impacted receive the fair treatment they deserve in light of the allegations against ModivCare.