Lawsuit filed for Investors who lost money with shares of DocGo Inc. (NASDAQ: DCGO)

An investor, who purchased shares of DocGo Inc. (NASDAQ: DCGO), filed a lawsuit over alleged violations of Federal Securities Laws by DocGo Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of DocGo Inc. (NASDAQ: DCGO) have certain options and for certain investors are short and strict deadlines running. Deadline: December 26, 2023. NASDAQ: DCGO investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

New York based DocGo Inc. provides mobile health and medical transportation services for various health care providers in the United States and the United Kingdom. On July 30, 2023, the New York Times reported a rocky start to DocGo Inc's migrant relocation efforts in New York City. The article reported that asylum-seekers have complained of threats and broken promises after New York City awarded DocGo the Relocation Contract. DocGo's $432 million contract nearly matches the Company's total 2022 revenue of roughly $441 million.

On August 22, 2023, the Albany Times Union reported that the New York Attorney General ("NYAG") opened an investigation into DocGo and cautioned the Company to cease limiting migrants' speech or movement. Specifically, the NYAG Civil Rights Bureau sent a letter to DocGo's attorneys detailing serious concerns it had regarding potential violations of state and federal laws in its handling of the Relocation Contract. Then, on September 6, 2023, New York City Comptroller Brad Lander announced that his office was declining to approve the Relocation Contract. Mayor Adams had the authority to proceed with the Relocation Contract over Comptroller Lander's objections and ultimately did so.

On September 14, 2023, the Albany Times Union published an article reporting that Anthony Capone, DocGo's Chief Executive Officer, had falsified portions of his professional biography regarding his educational history. Then, on September 15, 2023, DocGo disclosed Capone's resignation as Chief Executive Officer in a filing with the U.S. Securities and Exchange Commission.

Then, on September 18, 2023, Comptroller Lander announced that his office was commencing a real-time audit of operations and invoices incurred by DocGo in connection with the Relocation Contract. Specifically, Comptroller Lander noted that his office has serious concerns about the selection of DocGo as a vendor and the Company's performance of contract duties.

Shares of DocGo Inc. (NASDAQ: DCGO) declined from $10.82 per share on August 10, 2023, to as low as $4.88 per share on September 18, 2023.

The plaintiff claims that between November 8, 2022 and September 17, 2023, the defendants made false and/or misleading statements, as well as failed to disclose that DocGo's executive hiring processes were inadequate to fully review and vet the professional and academic backgrounds of job candidates, that the foregoing increased the likelihood of disruptive executive turnover, that contrary to its representations to investors, DocGo had overstated the efficacy of its mobile health and medical transportation services, the very services contemplated by the Relocation Contract, and that all of the foregoing, once revealed, was likely to subject DocGo to significant reputational and/or regulatory scrutiny that would negatively impact the Company's financial position and/or prospects.

Those who purchased shares of DocGo Inc. (NASDAQ: DCGO) 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.