ATLANTA, Jan. 30, 2025 (GLOBE NEWSWIRE) -- A securities class action lawsuit has been filed against ModivCare Inc. (“ModivCare” or the “Company”) (NASDAQ: MODV). The lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose adverse facts about the Company’s business, operations, and prospects, including “that certain contracts used in ModivCare’s 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; (3) Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.”

If you bought shares of ModivCare between November 3, 2022 and September 15, 2024, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey D. Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at www.holzerlaw.com/case/modivcare/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is March 31, 2025.

Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021, 2022, and 2023, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.  

CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com

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