ModivCare Inc. Sued for Securities Law Violations - Contact Levi & Korsinsky Before March 31, 2025 to Discuss Your Rights - MODV
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ModivCare Inc. (NASDAQ:MODV) is being sued in a class action securities lawsuit alleging securities fraud between November 2022 and September 2024. The lawsuit claims the company made false statements about its non-emergency medical transportation (NEMT) segment contracts, which allegedly caused deteriorating free cash flow, insufficient liquidity, and misleading positive statements about the company's business prospects.
March 26, 2025 | 9:45 pm
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The class action lawsuit could negatively impact ModivCare's stock price by highlighting alleged financial misrepresentations in its NEMT segment between 2022-2024.
The lawsuit alleges serious financial misrepresentations that could damage investor confidence, potentially leading to stock price decline. The specific claims about deteriorating cash flow and misleading statements pose significant legal and financial risks.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100