Press release
Investigation announced for Investors of InnovAge Holding Corp. (NASDAQ: INNV) over possible Violations of Securities Laws
An investigation for investors in InnovAge Holding Corp. (NASDAQ: INNV) shares over potential securities laws violations.
Investors who purchased shares of InnovAge Holding Corp. (NASDAQ: INNV), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of InnovAge Holding Corp. (NASDAQ: INNV) concerning whether a series of statements by InnovAge Holding Corp. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Denver, CO based InnovAge Holding Corp. manages and provides a range of medical and ancillary services for seniors in need of care and support to live independently in their homes and communities. InnovAge Holding Corp. (NASDAQ: INNV) reported that its Total Revenue rose from $465.63 million for the 12 months period that ended on June 30, 2019, to $567.19 million for the 12 months period that ended on June 30, 2020, and that its Net Income over those respective time frames increased from$19.57 million to $26.27 million.
On September 21, 2021, InnovAge Holding Corp revealed that the Centers for Medicare and Medicaid Services ("CMS") had "determined to freeze new enrollments at [the Company’s] Sacramento center based on deficiencies detected in [a recent] audit." InnovAge Holding Corp stated that these "deficiencies relate to failures to provide covered services, provide accessible and adequate services, manage participants’ medical situations, and oversee use of specialists, among others."
Shares of InnovAge Holding Corp. (NASDAQ: INNV) declined from $13.07 per share on September 21, 2021, to $6.45 per share on September 29, 2021.
Those who purchased shares of InnovAge Holding Corp. (NASDAQ: INNV) 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.
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