SAN DIEGO, March 11, 2025 (GLOBE NEWSWIRE) — Robbins LLP reminds stockholders that a class action was filed on behalf of persons and entities that purchased or otherwise acquired ModivCare, Inc. (NASDAQ: MODV) securities between November 3, 2022 and September 15, 2024. ModivCare provides a suite of integrated supportive care solutions for public and private payors and their members.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that ModivCare, Inc. (MODV) Misled Investors Regarding its Business Prospects
According to the complaint, during the class period, defendants failed to disclose that certain contracts used in ModivCare’s NEMT segment caused the Company’s free cash flow to deteriorate and that, as a result, (1) contract renegotiations and pricing accommodations negatively impacted the Company’s adjusted EBITDA; (2) the Company had insufficient liquidity; and (3) defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the truth was revealed, ModivCare’s stock declined, harming investors.
What Now: You may be eligible to participate in the class action against ModivCare, Inc. Shareholders who want to serve as lead plaintiff for the class must file papers with the court by March 31, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
To be notified if a class action against ModivCare, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.
Attorney Advertising. Past results do not guarantee a similar outcome.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/da58cab8-e2a0-41b4-8c61-50b3cba6edc3