ModivCare (US:MODV) Globenewswire·2025-03-06 17:14Core Viewpoint - The Gross Law Firm is notifying shareholders of ModivCare Inc. regarding a class action lawsuit due to alleged misleading statements and financial misrepresentations that negatively impacted the company's performance [1][3]. Group 1: Allegations and Impact - The class period for the allegations spans from November 3, 2022, to September 15, 2024 [3]. - The complaint claims that ModivCare's contracts in the NEMT segment led to a deterioration in free cash flow, resulting in negative impacts on adjusted EBITDA and liquidity issues [3]. - It is alleged that the defendants made false statements about the company's business operations and prospects, which were materially misleading [3]. Group 2: Shareholder Actions - Shareholders who purchased shares during the specified class period are encouraged to register for potential lead plaintiff appointment, 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]. - Participation in the case incurs no cost or obligation for the shareholders [4]. Group 3: Law Firm's Commitment - The Gross Law Firm is recognized for its commitment to protecting investors' rights against deceit and fraud in business practices [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [5].