Important Notice for ModivCare Inc. Shareholders: Potential Class Action Lawsuit
New York, NY – March 13, 2025
The Gross Law Firm, a leading national shareholder rights law firm, issues the following notice to investors in ModivCare Inc. (MODV) concerning a potential securities class action. If you purchased ModivCare shares during the period between January 1, 2023, and December 31, 2024, you may be entitled to compensation. This notice is not a solicitation to file a lawsuit and is only intended to provide shareholders with information about their rights and potential remedies.
Background:
ModivCare is a telehealth and remote patient monitoring company that provides services to patients in their homes. The company went public through a reverse merger with Mintac Acquisition Corp. II in October 2022. Since then, MODV shares have experienced significant volatility, with the stock price peaking at around $15 per share in early 2023 and dropping to as low as $5 per share by the end of the year.
Allegations:
The Gross Law Firm is investigating potential securities fraud claims against ModivCare and certain of its officers and directors. The investigation concerns whether the Company and its executives made false and misleading statements to the market. Specifically, the firm is investigating whether the Company misrepresented the size and scope of its customer base, its revenue growth prospects, and its financial condition.
Possible Class Action:
If the investigation reveals that the Company and its executives violated securities laws, a class action lawsuit may be filed on behalf of shareholders who purchased ModivCare shares during the class period. The lead plaintiff will be a representative party acting on behalf of all shareholders in the class. The lead plaintiff will be appointed by the court and will work with the law firm to represent the interests of the class.
What Does This Mean for Shareholders?
If you purchased ModivCare shares during the class period and have suffered losses, you may be entitled to compensation. The lead plaintiff will seek to recover damages on behalf of all class members. The exact amount of damages will depend on the outcome of the investigation and any resulting lawsuit. Shareholders do not need to act at this time but are encouraged to contact The Gross Law Firm to discuss their options and potential eligibility for appointment as lead plaintiff.
Global Implications:
The potential ModivCare class action lawsuit is not just an isolated incident. It’s part of a broader trend of shareholder litigation against technology companies, particularly those in the healthcare and telemedicine sectors. The rise of these lawsuits reflects increased investor scrutiny and skepticism towards growth-oriented companies that make ambitious claims about their financial prospects.
Conclusion:
The potential ModivCare class action lawsuit is an important development for investors in the Company and the broader healthcare technology sector. Shareholders who purchased MODV shares during the class period are encouraged to contact The Gross Law Firm to discuss their potential legal rights and options. As the investigation unfolds, the outcome of this case could set a precedent for future securities litigation in the tech industry.
Investors should be vigilant about potential securities fraud and take steps to protect their investments. If you have any concerns about a specific investment, don’t hesitate to reach out to a qualified securities attorney for advice.
- The Gross Law Firm is investigating potential securities fraud claims against ModivCare Inc. and certain of its officers and directors.
- The investigation concerns whether the Company misrepresented its customer base, revenue growth prospects, and financial condition.
- Shareholders who purchased ModivCare shares during the class period may be entitled to compensation.
- The potential ModivCare class action lawsuit is part of a broader trend of shareholder litigation against technology companies.
- Investors should be vigilant about potential securities fraud and take steps to protect their investments.
