Important Information for ModivCare Inc. Investors: Deadline Reminder for Securities Class Action Lawsuit
New York, NY, Feb. 28, 2025 – Rosen Law Firm, a leading global investor rights law firm, alerts investors of ModivCare Inc. (MODV) regarding a securities class action lawsuit that was filed on behalf of shareholders who purchased ModivCare securities between November 3, 2022, and September 15, 2024, both dates inclusive (the “Class Period”).
According to the complaint, the defendants during the Class Period made false and/or misleading statements and/or failed to disclose that:
- ModivCare’s financial statements for the periods ended March 31, 2022, and June 30, 2022, contained material misstatements and omissions;
- ModivCare’s revenue growth was significantly lower than represented;
- ModivCare’s sales and marketing expenses were significantly higher than represented;
- ModivCare’s cost of sales was significantly higher than represented;
- ModivCare’s internal control over financial reporting was deficient;
- As a result of the above, ModivCare’s financial statements for the periods ended March 31, 2022, and June 30, 2022, could not be relied upon.
If you purchased ModivCare securities during the Class Period, you may be entitled to compensation without having to file an individual lawsuit. The lead plaintiff deadline for this action is March 31, 2025. If you wish to serve as lead plaintiff, you must move the Court no later than March 31, 2025. To opt out of this class action, or to object to the proposed settlement, you must do so no later than March 31, 2025.
How This Affects Individual Investors
If you purchased ModivCare securities during the Class Period, you may have lost money as a result of the defendants’ misrepresentations. The class action lawsuit aims to recover damages for these losses. If the case is successful, investors may be entitled to compensation through a monetary fund.
How This Affects the World
The securities class action lawsuit against ModivCare is significant because it highlights the importance of accurate financial reporting. Companies that misrepresent their financial information can negatively impact the markets and the investing public. This case serves as a reminder for companies to maintain transparency and provide truthful information to their investors.
Additionally, this lawsuit may encourage other investors to come forward with information or evidence related to ModivCare’s financial reporting. This could lead to further investigations and potential legal action against the company or its executives.
Conclusion
If you purchased ModivCare securities during the Class Period, you have important legal rights. Rosen Law Firm encourages investors to contact them before the lead plaintiff deadline to discuss their potential recovery options. The firm represents investors in securities fraud class actions and works to recover losses on behalf of aggrieved shareholders.
This lawsuit serves as a reminder for all investors to carefully research the companies they invest in and to demand truthful financial reporting. It also highlights the importance of holding companies accountable for their actions and ensuring that the markets remain fair and transparent.
For more information about this class action lawsuit, please contact Rosen Law Firm by calling Phillip Kim, Esq. or Daniel Sadeh, Esq. at 866-767-3653 or via email at [email protected] or [email protected]. You can also visit the firm’s website at www.rosenlegal.com for more information.
