According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements as well as failed to disclose adverse facts about ModivCare’s business, operations, and prospects. Specifically, defendants failed to disclose that certain contracts used in ModivCare’s non-emergency medical transportation (“NEMT”) segment caused ModivCare’s free cash flow to deteriorate and that, as a result:
- contract renegotiations and pricing accommodations negatively impacted ModivCare’s adjusted EBITDA;
- ModivCare had insufficient liquidity; and
- defendants’ positive statements about ModivCare’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Attorney Advertising. Prior results do not guarantee a similar outcome.
