#USA #New York #Class Action #Gross Law Firm #ModivCare Inc

Important Notice for ModivCare Inc. Shareholders

The Gross Law Firm has released an urgent notice directed to the shareholders of ModivCare Inc. (NASDAQ: MODV), urging those who bought shares during the specified class period to take immediate action. This follows a class action lawsuit initiated against the company, concerning serious allegations that may have impacted investors significantly.

Class Period Details

Shareholders who purchased shares of ModivCare from November 3, 2022, to September 15, 2024 are particularly encouraged to connect with the Gross Law Firm. This cohort's actions and rights as investors are pivotal in the ongoing proceedings.

Allegations and Concerns

The primary allegations outlined in the lawsuit suggest that ModivCare misled investors about critical aspects of its operations. Specific accusations include:

• - False Statements: The defendants purportedly made misleading statements about certain contracts related to the company’s Non-Emergency Medical Transportation (NEMT) segment. These statements concealed the deteriorating state of free cash flow and the impact on ModivCare's financial health.
• - Renegotiation Implications: It is alleged that unfavorable contract renegotiations adversely affected the company’s adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization).
• - Liquidity Issues: The complaint suggests the company lacked adequate liquidity, which was not disclosed to shareholders.
• - Misleading Positive Statements: Defendants allegedly made optimistic assertions about the company's business prospects that lacked a reasonable basis.

Action Steps for Shareholders

As the deadline for joining this class action approaches, ModivCare shareholders must act swiftly. The cutoff date to register your claim is March 31, 2025. Interested shareholders can do so by filling out the registration form available through the Gross Law Firm's platform. This registration is crucial, as it enrolls shareholders in a portfolio monitoring system that provides real-time updates and case status.

Importantly, shareholders need not serve as lead plaintiffs to partake in potential recoveries. The law firm emphasizes that joining does not incur any cost or obligation.

Why Choose The Gross Law Firm?

The Gross Law Firm is recognized nationally for its dedication to protecting investors and ensuring adherence to fair business practices. The firm aims to recover losses incurred by shareholders due to fraudulent activities and misleading corporate communications by companies like ModivCare.

In previous cases, the firm has successfully represented stockholders, reflecting its commitment to justice and corporate accountability. Investors are encouraged to reach out by calling (646) 453-8903 or sending an email to [email protected] for more information.

Conclusion

This significant opportunity for ModivCare shareholders highlights the importance of vigilance in the investment landscape. By participating in this class action, investors can take a stand against deceptive corporate practices while potentially recouping their losses.