Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired ModivCare Inc. (NASDAQ: MODV) securities.
If you suffered a loss on your ModivCare investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Nov 03 2022 - Sep 15 2024
CASE DETAILS: According to the filed complaint, defendants made false statements and/or concealed that certain contracts used in ModivCare’s NEMT segment caused the Company’s free cash flow to deteriorate and as a result, (1) contract renegotiations and pricing accommodations negatively impacted the Company’s adjusted EBITDA; (2) the Company had insufficient liquidity; and (3) defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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