DocGo (US:DCGO) Prnewswireยท2025-08-04 12:00Core Viewpoint - DocGo Inc. is facing legal scrutiny due to allegations of false statements regarding the educational background of its former CEO and misleading claims about its business operations, leading to significant insider stock sales and a subsequent drop in stock price [2][3]. Group 1: Legal Issues - Schubert Jonckheer & Kolbe LLP is investigating potential legal claims against DocGo related to alleged false statements about the former CEO's educational qualifications and the company's business development efforts [1]. - A U.S. District Court ruling allows a securities fraud lawsuit against DocGo and its former CEO to proceed, citing "indisputably false" statements made with intent to defraud [2]. - The lawsuit claims that DocGo misled investors about the former CEO's graduate degree, its Medicaid enrollment efforts, and its relationship with UnitedHealthcare [2]. Group 2: Financial Impact - During the period of alleged misconduct, insiders sold approximately $4 million worth of DocGo stock [2]. - Following the revelation that the former CEO did not have a graduate degree and that DocGo failed to enroll anyone in Medicaid, the company's stock price fell by 25% [2].