Glancy Prongay & Murray LLP Announces Securities Fraud Class Action Lawsuit Against ModivCare, Inc.
On March 5, 2025, Glancy Prongay & Murray LLP announced that investors who have suffered losses on their ModivCare, Inc. (“ModivCare” or the “Company”) investments have the opportunity to lead the securities fraud class action lawsuit against the company. The lawsuit alleges that ModivCare and certain of its executives violated the Securities Exchange Act of 1934 by making false and misleading statements regarding the company’s business, operations, and financial condition.
Background on ModivCare, Inc.
ModivCare is a leading healthcare services company that provides post-acute care services to aging and disabled individuals in the United States. The company operates through its subsidiaries, which provide a range of services including home health, hospice, and infusion therapy.
The Allegations
The complaint filed in the lawsuit alleges that ModivCare and certain executives made false and misleading statements regarding the company’s business, operations, and financial condition. Specifically, the complaint alleges that the company failed to disclose material information about its business practices, including its use of unlawful and unsustainable billing and referral practices.
Impact on Individual Investors
If you invested in ModivCare securities between certain dates and suffered losses, you may be eligible to participate in the securities fraud class action lawsuit. The lead plaintiff deadline for this case is March 31, 2025. By joining the class action, you may be able to recover your losses through a monetary award from the settlement.
Impact on the World
The securities fraud class action lawsuit against ModivCare is significant because it highlights the importance of transparency and integrity in the healthcare industry. The allegations of billing and referral practices raise concerns about the potential for widespread fraud and abuse in the post-acute care sector. If the allegations are proven true, it could lead to increased scrutiny and regulation of the industry, potentially resulting in higher costs and reduced access to care for some individuals.
Conclusion
The securities fraud class action lawsuit against ModivCare, Inc. is an important development for investors and the healthcare industry as a whole. If you invested in ModivCare securities and suffered losses, you may be eligible to participate in the class action lawsuit. By joining the case, you may be able to recover your losses and hold the company and its executives accountable for any misrepresentations. Regardless of whether you choose to participate, it is important to stay informed about developments in the case and the healthcare industry more broadly.
- Glancy Prongay & Murray LLP announces securities fraud class action lawsuit against ModivCare, Inc.
- Allegations of false and misleading statements regarding the company’s business, operations, and financial condition.
- Lead plaintiff deadline is March 31, 2025.
- Potential impact on individual investors and the healthcare industry.
