#United States #New York #Class Action #Pomerantz LLP #ModivCare

Investor Alert: Pomerantz Law Firm Targets ModivCare in Class Action

Introduction
The Pomerantz Law Firm has issued an urgent alert to investors impacted by losses from their investments in ModivCare, Inc. This alert comes in light of the recent filing of a class action lawsuit against the company, exposing potential instances of securities fraud and other unlawful practices. This article provides a detailed analysis of the lawsuit and its implications for investors.

Background on ModivCare, Inc.
ModivCare, Inc. is a company traded on NASDAQ under the ticker MODV. The firm is involved in intermediary services, aiming to enhance access to healthcare and support for vulnerable populations. However, the company's recent financial performances have raised concerns among investors, leading to its current legal troubles.

Details of the Class Action Filing
The firm is calling upon investors who have suffered monetary losses due to investments in ModivCare stocks during specified periods to join the lawsuit as plaintiffs. The deadline for appointing a Lead Plaintiff is set for March 31, 2025. The implications of the class action could significantly affect the company's stock value and investor portfolios.

In connection with the lawsuit, significant drops in ModivCare’s stock prices are noteworthy:

• - On May 4, 2023, the company's CFO, Kenneth Shepard, revealed that there was a notable decrease in cash flow from operations, which led to a 16.31% drop in stock price, closing at $58.00.
• - On August 3, 2023, after CEO L. Heath Sampson disclosed issues related to a large payable balance impacting cash flow, the stock fell an additional 7.48%, concluding at $35.38.
• - Continued financial struggles were highlighted in February 2024 when the company announced negative cash flow, resulting in a substantial 39.32% decrease in stock value, reaching $26.62.
• - The situation deteriorated further in September 2024, with announcements about seeking additional capital causing the stock to plummet to $12.76, marking a staggering 59.09% decline from previous valuations.

Investor Rights and Legal Options
Investors who acquired ModivCare securities during the affected periods and experienced losses are encouraged to reach out to Pomerantz LLP. The firm specializes in corporate and securities class litigation, advocating for investors’ rights vigorously.

Danielle Peyton, a representative from Pomerantz, is available for inquiries via email and phone to discuss potential participation in the class action. Prospective plaintiffs should be prepared to provide their contact information and details regarding their stock purchases.

Conclusion
Pomerantz LLP's proactive measures in highlighting this lawsuit are not only a call to action for investors but also a testament to the firm’s commitment to protecting investors from corporate malpractice. With significant losses endured by shareholders, this class action could potentially recover damages for those affected and serve as a warning to ModivCare regarding corporate accountability. As the legal proceedings unfold, investors are urged to stay informed and consider their options.

For further updates and to obtain a copy of the complaint, interested parties can visit Pomerantz's official website.