Investors who lost money with shares of ModivCare Inc. (NASDAQ: MODV) should contact the Shareholders Foundation in connection with Lawsuit

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

Investors who purchased shares of ModivCare Inc. (NASDAQ: MODV) have certain options and for certain investors are short and strict deadlines running. Deadline: March 31, 2025. NASDAQ: MODV investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Denver, CO based ModivCare Inc., a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and their members. As part of its business model, ModivCare enters into contracts with a network of independent transportation providers.

ModivCare Inc. (NASDAQ: MODV) reported that its annual Total Revenue rose from over $2.5 billion in 2022 to over $2.75 billion in 2023, and that its Net Loss declined from $31.8 million in 2022 to $25.2 million in 2023.

On September 16, 2024, before market hours, ModivCare Inc filed a press release on a Form 8-K with the Securities and Exchange Commission, titled "Modivcare Provides Financial Update." Therein, the Company revised its 2024 Adjusted EBITDA guidance range from $185-$195 million to $170-$180 million, "primarily due to NEMT segment pricing accommodations made to strategically retain and expand key customer relationships."

Shares of ModivCare Inc. (NASDAQ: MODV) declined from $52.33 per share on February 16, 2024, to as low as $3.64 per share on February 03, 2025.

The plaintiff claims that between November 3, 2022, and September 15, 2024, the Defendants failed to disclose that certain contracts used in ModivCare's non-emergency medical transportation ("NEMT") segment caused the Company's free cash flow to deteriorate and that, as a result, (1) contract renegotiations and pricing accommodations negatively impacted the Company's adjusted EBITDA; (2) the Company had insufficient liquidity; and (3) Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of ModivCare Inc. (NASDAQ: MODV) 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.