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 securities class action lawsuit could negatively impact ModivCare's stock by highlighting alleged financial misrepresentations and potential liquidity issues in its NEMT segment.
The lawsuit alleges serious financial misrepresentations that could damage investor confidence, potentially leading to stock price decline. The specific claims about deteriorating free cash flow and insufficient liquidity are likely to concern investors.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100