Class Action Filed Against ModivCare Inc. (MODV) Seeking Recovery for Investors

Core Viewpoint - A class action securities lawsuit has been filed against ModivCare Inc. for alleged securities fraud affecting investors between November 3, 2022, and September 15, 2024 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that ModivCare made false statements and concealed information regarding contracts in its Non-Emergency Medical Transportation (NEMT) segment, which led to a deterioration in free cash flow [2]. - Allegations include that contract renegotiations and pricing accommodations negatively impacted the Company's adjusted EBITDA, and that the Company faced liquidity issues [2]. - The defendants' positive statements about ModivCare's business operations and prospects were deemed materially misleading and lacked a reasonable basis [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until March 31, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has extensive expertise in complex securities litigation [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4].