Lawsuit filed for Investors in shares of AdaptHealth Corp. (NASDAQ: AHCO)

An investor, who purchased shares of AdaptHealth Corp. (NASDAQ: AHCO), filed a lawsuit over alleged violations of Federal Securities Laws by AdaptHealth Corp. f/k/a DFB Healthcare Acquisitions Corp.

Investors who purchased shares of AdaptHealth Corp. (NASDAQ: AHCO) have certain options and for certain investors are short and strict deadlines running. Deadline: September 27, 2021. NASDAQ: AHCO investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Plymouth Meeting, PA based AdaptHealth Corp., together with its subsidiaries, provides home healthcare equipment, medical supplies, and home and related services in the United States. Prior to its business combination with AdaptHealth, DFB Healthcare Acquisitions Corp was a special purpose acquisition company ("SPAC"), also known as a blank check company, incorporated for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities.
On July 8, 2019, DFB Healthcare Acquisitions Corp announced that it had entered into a definitive agreement for a business combination with AdaptHealth Holdings, LLC, the third largest distributor of home medical equipment in the U.S. (the "Merger"). Upon the closing of the Merger, DFB Healthcare Acquisitions Corp renamed itself "AdaptHealth Corp." and its Class A common stock began trading on the Nasdaq Global Select market under the ticker symbol "AHCO."

AdaptHealth Corp. reported that its annual Total Revenue rose from $529.64 million in 2019 to over $1.05 billion in 2020, and that its Net Loss increased from $14.99 million in 2019 to $64.48 million in 2020.

On April 13, 2021, AdaptHealth Corp. announced that the Company "has learned that authorities in Denmark have formally charged Co-Chief Executive Officer Luke McGee with alleged tax fraud arising from certain past private activity. The alleged personal conduct occurred between March 2014 and August 2015 and had no connection to AdaptHealth's business." AdaptHealth further stated that it "has placed Mr. McGee on unpaid leave from his roles as Co-CEO and a Director of the Company while this matter is pending."
On July 19, 2021, before the market opened, Jehoshaphat Research published a report alleging that AdaptHealth is a "roll-up" company, or a company that is built primarily through the acquisition of smaller companies with common services or products, that obscures its organic growth by "[r]etroactively changing past organic growth numbers to be higher, with no disclosure about the change." Specifically, the report stated that "[w]hile management claims (and consensus estimates reflect) an organic growth trajectory of 8-10%, AHCO is in fact experiencing double-digit organic decline. It is also, in our opinion, taking steps to obscure that decline which are expressly forbidden by the SEC." Indeed, the report suggested that AdaptHealth's manipulation of its organic growth trajectory was "a blatant violation of non-GAAP disclosure rules, for which companies get into huge trouble."

Shares of AdaptHealth Corp. (NASDAQ: AHCO) declined from $38.84 per share on April 6, 2021, to as low as $21.00 per share on August 4, 2021.
According to the complaint the plaintiff alleges on behalf of purchasers of AdaptHealth Corp. (NASDAQ: AHCO) common shares between November 11, 2019 and July 16, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 11, 2019 and July 16, 2021, the defendants made false and/or misleading statements and/or failed to disclose that AdaptHealth Corp had misrepresented its organic growth trajectory by retroactively inflating past organic growth numbers without disclosing the changes, in violation of SEC regulations, that accordingly, the Company had materially overstated its financial prospects, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of AdaptHealth Corp. (NASDAQ: AHCO) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.