Levi & Korsinsky Announces the Filing of a Securities Class Action on Behalf of ModivCare Inc. (MODV) Shareholders
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Law firm Levi & Korsinsky has filed a securities class action lawsuit against ModivCare Inc. alleging securities fraud between November 2022 and September 2024. The lawsuit claims the company made false statements about its financial condition, specifically regarding contract issues in its Non-Emergency Medical Transportation (NEMT) segment that negatively impacted free cash flow, adjusted EBITDA, and liquidity.
March 21, 2025 | 9:45 pm
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The lawsuit suggests ModivCare misrepresented its financial health, potentially damaging investor confidence and stock performance. Allegations focus on contract issues in NEMT segment and misleading statements about business prospects.
The securities class action lawsuit directly targets ModivCare, alleging systematic financial misrepresentations. Such legal actions typically create negative market sentiment, potentially leading to stock price decline, investor loss of confidence, and increased scrutiny of company leadership.
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