Core Viewpoint - ModivCare, Inc. is facing a federal securities class action lawsuit due to allegations of misleading statements and failure to disclose critical financial information, leading to significant investor losses [3][4]. Group 1: Legal Action and Claims - Faruqi & Faruqi, LLP is investigating potential claims against ModivCare and has set a deadline of March 31, 2025, for investors to seek the role of lead plaintiff in the class action [2]. - The lawsuit alleges that ModivCare and its executives violated federal securities laws by making false statements regarding contract renegotiations, liquidity issues, and the overall business outlook [3]. - Investors who suffered losses exceeding $50,000 between November 3, 2022, and May 3, 2023, are encouraged to contact the law firm to discuss their legal options [1][2]. Group 2: Financial Impact - Following the revelation of financial difficulties, ModivCare's stock price dropped significantly, with a notable decline of nearly 10% on September 16, 2024, after the company revised its 2024 Adjusted EBITDA guidance from $185-$195 million to $170-$180 million [4]. - The decline in stock price was attributed to pricing accommodations made to retain key customer relationships, which negatively impacted the company's adjusted EBITDA [4]. Group 3: Class Action Participation - The lead plaintiff in the class action will be the investor with the largest financial interest who is also typical of the class members, overseeing the litigation on behalf of the group [5]. - Any member of the class can move to serve as lead plaintiff or remain an absent class member without affecting their ability to share in any recovery [5].

Core Viewpoint - A class action securities lawsuit has been filed against ModivCare Inc. for alleged securities fraud affecting investors between November 3, 2022, and September 15, 2024 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that ModivCare made false statements and concealed information regarding contracts in its Non-Emergency Medical Transportation (NEMT) segment, which led to a deterioration in free cash flow [2]. - The negative impacts cited include contract renegotiations and pricing accommodations that adversely affected the company's adjusted EBITDA, insufficient liquidity, and misleading positive statements about the company's business and prospects [2]. Group 2: Investor Participation - Investors who suffered losses during the specified timeframe have until March 31, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, with no obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and is recognized as one of the top securities litigation firms in the United States, with over 20 years of experience [4].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased ModivCare Inc. securities during the specified Class Period of the upcoming lead plaintiff deadline for a class action lawsuit [1][2]. Group 1: Class Action Details - The Class Period for the ModivCare securities is from November 3, 2022, to September 15, 2024 [1]. - Investors may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1]. - A class action lawsuit has already been filed, and interested parties can join by contacting Rosen Law Firm [2][5]. Group 2: Legal Representation - Investors are encouraged to select qualified legal counsel with a proven track record in securities class actions [3]. - Rosen Law Firm has a history of successful settlements, including the largest securities class action settlement against a Chinese company at the time [3]. - The firm has consistently ranked highly in securities class action settlements, recovering hundreds of millions of dollars for investors [3]. Group 3: Case Allegations - The lawsuit alleges that ModivCare's defendants made materially false and misleading statements and failed to disclose adverse facts about the company's business and operations [4]. - Specific issues cited include the deterioration of free cash flow in ModivCare's non-emergency medical transportation segment, which negatively impacted adjusted EBITDA and liquidity [4]. - The lawsuit claims that when the true details were revealed, investors suffered damages due to the misleading statements [4].

NEW YORK, March 27, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in ModivCare Inc. ("ModivCare" or the "Company") (NASDAQ: MODV) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of ModivCare investors who were adversely affected by alleged securities fraud between November 3, 2022 and September 15, 2024. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/modivcare-inc-lawsui ...

Core Viewpoint - ModivCare, Inc. is facing a class action lawsuit alleging violations of the Securities Exchange Act of 1934, with claims of misleading statements regarding its financial performance and liquidity issues [1][2]. Group 1: Allegations and Financial Impact - The lawsuit claims that ModivCare made false or misleading statements and failed to disclose that contract renegotiations and pricing accommodations negatively impacted its adjusted EBITDA [2]. - Additionally, it is alleged that ModivCare had insufficient liquidity during the class period [2]. Group 2: Lead Plaintiff Process - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased ModivCare securities during the class period to seek appointment as lead plaintiff in the lawsuit [3]. - The lead plaintiff is typically the investor with the greatest financial interest in the case and acts on behalf of all class members [3]. Group 3: About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud cases, having secured $6.6 billion for investors in such cases, significantly more than any other firm in the last four years [4]. - The firm has a strong track record, including the largest securities class action recovery in history, amounting to $7.2 billion in the Enron case [4].

Forward Looking Statements Certain statements contained in herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are predictive in nature and are frequently identified by the use of terms such as "may," "will," "should," "expect," "believe," "estimate," "intend," and similar words indicating possible future expectations, events or actions. The updated guidance discussed herein constitutes forward-looking statements. Such f ...

Core Viewpoint - ModivCare Inc. is facing a class action lawsuit due to allegations of false statements and concealment of information that negatively impacted the company's financial performance, particularly in its Non-Emergency Medical Transportation (NEMT) segment [3]. Group 1: Allegations and Financial Impact - The lawsuit claims that certain contracts in ModivCare's NEMT segment led to a deterioration in the company's free cash flow [3]. - It is alleged that contract renegotiations and pricing accommodations adversely affected the company's adjusted EBITDA [3]. - The company reportedly faced liquidity issues as a result of these factors, and the defendants' positive statements about the company's business were misleading [3]. Group 2: Class Action Details - The class period for the lawsuit is defined as November 3, 2022, to September 15, 2024 [3]. - Shareholders who purchased shares during this period are encouraged to register for participation in the class action, with a deadline set for March 31, 2025 [4]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's progress [4]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure that companies engage in responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [5].

Core Viewpoint - ModivCare, Inc. is facing a class action lawsuit alleging violations of the Securities Exchange Act of 1934, with claims related to misleading statements and insufficient liquidity impacting the company's financial performance [1][2]. Group 1: Allegations and Financial Impact - The lawsuit claims that ModivCare made false or misleading statements regarding contract renegotiations and pricing accommodations, which negatively affected the company's adjusted EBITDA [2]. - It is alleged that ModivCare had insufficient liquidity during the class period, further exacerbating its financial challenges [2]. Group 2: Legal Process and Participation - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased ModivCare securities during the class period to seek appointment as lead plaintiff in the lawsuit [3]. - The lead plaintiff is expected to have the greatest financial interest in the case and will represent the interests of all class members [3]. Group 3: Law Firm Background - Robbins Geller Rudman & Dowd LLP is a prominent law firm specializing in securities fraud cases, having secured over $6.6 billion for investors in related class action cases [4]. - The firm has been recognized for its significant recoveries, including the largest securities class action recovery in history amounting to $7.2 billion in the Enron case [4].

Core Viewpoint - A class action securities lawsuit has been filed against ModivCare Inc. for alleged securities fraud affecting investors between November 3, 2022, and September 15, 2024 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that ModivCare made false statements and concealed information regarding contracts in its Non-Emergency Medical Transportation (NEMT) segment, which led to a deterioration in free cash flow [2]. - Allegations include that contract renegotiations and pricing accommodations negatively impacted the company's adjusted EBITDA, resulted in insufficient liquidity, and that positive statements about the company's business were materially misleading [2]. Group 2: Investor Information - Investors who suffered losses during the specified timeframe have until March 31, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require serving as lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].

Core Viewpoint - A class action lawsuit has been filed against ModivCare Inc. for alleged violations of securities laws, specifically related to misleading statements about the company's financial performance and liquidity issues [1][4]. Group 1: Lawsuit Details - The lawsuit pertains to ModivCare's actions between November 3, 2022, and September 15, 2024, during which investors are encouraged to participate if they suffered losses [2]. - The complaint alleges that ModivCare made false and misleading statements regarding its pricing accommodations and contract renegotiations, which adversely affected its adjusted EBITDA [4]. - The company is accused of failing to maintain sufficient liquidity, leading to materially misleading public statements throughout the class period [4]. Group 2: Investor Participation - Investors who purchased ModivCare's securities during the specified class period are urged to contact the Schall Law Firm before March 31, 2025, to discuss their rights [2][3]. - The class has not yet been certified, meaning that potential participants are not currently represented by an attorney unless they take action [3].