Important Information for ModivCare Inc. (MODV) Investors: Rosen Law Firm Announces Class Action Lawsuit and Lead Plaintiff Deadline
NEW YORK, March 09, 2025
Rosen Law Firm, a global investor rights law firm, has announced the filing of a class action lawsuit on behalf of purchasers of ModivCare Inc. (MODV) securities between November 3, 2022, and September 15, 2024 (the “Class Period”). The lawsuit alleges that ModivCare and certain of its top executives made false and misleading statements and failed to disclose material information to investors.
Allegations Against ModivCare
According to the complaint, defendants made false and misleading statements and failed to disclose that:
- ModivCare’s financial statements for the periods ending December 31, 2022, and March 31, 2023, contained material misstatements and omissions;
- The Company’s revenue growth was not sustainable due to its aggressive sales and marketing practices;
- ModivCare’s sales and marketing expenses were significantly higher than industry norms;
- The Company’s sales force was incentivized to meet sales targets through improper means, including offering kickbacks to providers;
- As a result of the above, ModivCare’s financial statements were overstated and its business was not as strong as represented.
Effect on Individual Investors
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 is March 31, 2025. To join the class action, ModivCare investors should contact the Rosen Law Firm as soon as possible.
The lawsuit seeks to recover damages for ModivCare investors under the Securities Exchange Act of 1934. If the lawsuit is successful, investors may receive compensation for their losses. It is important for investors to protect their investments by securing their financial records and keeping any documents related to their purchases of ModivCare securities.
Effect on the World
The filing of this class action lawsuit against ModivCare is an important step in holding corporations accountable for providing false and misleading information to investors. The lawsuit sends a message to all publicly traded companies that they must provide accurate and truthful information to their investors. This is crucial for maintaining the integrity of the financial markets and ensuring that investors have the information they need to make informed decisions.
Conclusion
If you purchased ModivCare securities during the Class Period and believe that you may be entitled to compensation, it is important to act quickly. The lead plaintiff deadline is March 31, 2025. Contact the Rosen Law Firm as soon as possible to discuss your options for recovering your losses. The lawsuit seeks to recover damages for ModivCare investors under the Securities Exchange Act of 1934 and may result in compensation for investors who have suffered losses as a result of the Company’s false and misleading statements.
The filing of this class action lawsuit is an important step in maintaining the integrity of the financial markets and ensuring that investors have the information they need to make informed decisions. It is a reminder to all publicly traded companies that they must provide accurate and truthful information to their investors.
As a responsible and informed investor, it is important to be aware of the potential risks and uncertainties associated with investing in the stock market. Stay informed about the companies in which you invest and be vigilant for any signs of potential fraud or misrepresentation. By doing so, you can help protect yourself and the financial markets as a whole.
