The Gross Law Firm Announces the Filing of a Securities Class Action on Behalf of ModivCare Inc.(MODV) Shareholders
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The Gross Law Firm has filed a securities class action lawsuit against ModivCare Inc. (MODV) alleging that the company made false statements and concealed critical financial information. The lawsuit covers the period from November 3, 2022, to September 15, 2024, and claims that ModivCare misled shareholders about contract issues, free cash flow deterioration, and insufficient liquidity.
March 24, 2025 | 10:00 am
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NEGATIVE IMPACT
The securities class action lawsuit could negatively impact ModivCare's stock price by highlighting alleged financial misrepresentations and potential corporate governance issues.
The lawsuit alleges serious financial misrepresentations that could damage investor confidence, potentially leading to stock price decline. Key allegations include misleading statements about contract performance, EBITDA, and liquidity.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100