INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of ModivCare

Core Viewpoint - ModivCare, Inc. is facing a federal securities class action lawsuit due to allegations of misleading statements and failure to disclose critical financial information, leading to significant investor losses [3][4]. Group 1: Legal Action and Claims - Faruqi & Faruqi, LLP is investigating potential claims against ModivCare and has set a deadline of March 31, 2025, for investors to seek the role of lead plaintiff in the class action [2]. - The lawsuit alleges that ModivCare and its executives violated federal securities laws by making false statements regarding contract renegotiations, liquidity issues, and the overall business outlook [3]. - Investors who suffered losses exceeding $50,000 between November 3, 2022, and May 3, 2023, are encouraged to contact the law firm to discuss their legal options [1][2]. Group 2: Financial Impact - Following the revelation of financial difficulties, ModivCare's stock price dropped significantly, with a notable decline of nearly 10$185-$195 million to$170-$180 million [4]. - The decline in stock price was attributed to pricing accommodations made to retain key customer relationships, which negatively impacted the company's adjusted EBITDA [4]. Group 3: Class Action Participation - The lead plaintiff in the class action will be the investor with the largest financial interest who is also typical of the class members, overseeing the litigation on behalf of the group [5]. - Any member of the class can move to serve as lead plaintiff or remain an absent class member without affecting their ability to share in any recovery [5].