The Gross Law Firm Notifies ModivCare Inc. Investors of a Class Action Lawsuit and Upcoming Deadline - MODV

Core Viewpoint - ModivCare Inc. is facing allegations of making false statements and concealing information that negatively impacted its financial performance, particularly in its Non-Emergency Medical Transportation (NEMT) segment [1][2]. Group 1: Allegations and Financial Impact - The complaint alleges that certain contracts in ModivCare's NEMT segment led to a deterioration in the company's free cash flow [1]. - As a result of these contracts, the company experienced negative impacts on its adjusted EBITDA due to contract renegotiations and pricing accommodations [1]. - The company reportedly faced insufficient liquidity, and the defendants' positive statements about the company's business and prospects were misleading and lacked a reasonable basis [1]. Group 2: Class Action Details - The class period for shareholders who purchased shares of ModivCare is from November 3, 2022, to September 15, 2024 [1]. - Shareholders are encouraged to register for the class action by March 31, 2025, to potentially be appointed as lead plaintiffs [2]. - There is no cost or obligation for shareholders to participate in the case, and they will receive status updates through a portfolio monitoring software [2].