ModivCare (MODV) Prnewswire·2025-03-25 16:52Core 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, resulted in insufficient liquidity, and that positive statements about the company's business were materially misleading [2]. Group 2: Investor Information - 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 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 been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].