Workflow
Class Action Filed Against ModivCare Inc. (MODV) - March 31, 2025 Deadline to Join - Contact Levi & Korsinsky
ModivCare ModivCare (US:MODV) Prnewswireยท2025-02-25 10:45

Core Viewpoint - ModivCare Inc. is facing a class action securities lawsuit due to alleged securities fraud that negatively impacted 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 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 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: Legal Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4].