Important Information for Investors of ModivCare Inc.: Rosen Law Firm Reminds of Class Action Lawsuit and Lead Plaintiff Deadline
New York, NY, Feb. 25, 2025 – Rosen Law Firm, a global investor rights law firm, alerts purchasers of ModivCare Inc. (MODV) securities between November 3, 2022 and September 15, 2024, both dates inclusive (the “Class Period”), that they may be entitled to compensation under the securities laws for their losses. The lawsuit seeks to recover damages for ModivCare investors under the Securities Exchange Act of 1934.
Background on the Class Action Lawsuit
The complaint alleges that ModivCare made materially false and/or misleading statements and/or failed to disclose that:
- ModivCare’s financial statements for the periods ended December 31, 2021 and March 31, 2022 contained material errors and misstatements;
- ModivCare had inadequate internal controls over financial reporting;
- ModivCare’s revenue growth was the result of improper billing practices;
- ModivCare’s business model was unsustainable;
- ModivCare’s financial condition was weaker than represented;
As a result of these allegations, ModivCare’s stock price fell significantly during the Class Period.
Effect on Individual Investors
If you purchased ModivCare securities during the Class Period, the law may entitle you to compensation. You may be able to recover your loss through the securities class action. The lead plaintiff deadline is March 31, 2025. To get more information, you may contact the Rosen Law Firm by calling Joe Pettit, Esq. or Dylan Balduf, Esq. at 866-767-3653 or 212-697-9280, or by email at [email protected] or [email protected].
Effect on the World
The securities class action against ModivCare is significant because it highlights the importance of accurate financial reporting and strong internal controls. Companies that engage in accounting fraud or misrepresent their financial condition can cause widespread harm to investors and the economy as a whole. The securities class action system provides a mechanism for investors to seek compensation for their losses and to hold companies accountable for their actions.
Conclusion
If you purchased ModivCare securities during the Class Period, you may be entitled to compensation. The lead plaintiff deadline is March 31, 2025. To get more information, contact the Rosen Law Firm at 866-767-3653 or 212-697-9280, or by email at [email protected] or [email protected]. The Rosen Law Firm is dedicated to protecting investors’ rights and recovering damages for their losses.
The securities class action against ModivCare is a reminder that accurate financial reporting and strong internal controls are essential for maintaining investor confidence and protecting the integrity of the capital markets. Companies that engage in accounting fraud or misrepresent their financial condition can cause significant harm to investors and the economy as a whole. The securities class action system provides a vital mechanism for investors to seek compensation for their losses and to hold companies accountable for their actions.
If you have any questions or concerns, please do not hesitate to contact the Rosen Law Firm.
