This event is archived. Final snapshot from when the story concluded. View on Dashboard
Events / Business / ModivCare faces securities class action
Business class action

ModivCare faces securities class action

Analysis based on 17 articles · First reported Feb 04, 2025 · Last updated Feb 13, 2025

Sentiment
-50
Attention
4
Articles
17
Market Impact
General
Live prominence charts, article sentiment distribution, and event development timeline available on the Ergen Dashboard
Market Impact

The class action lawsuit against ModivCare could lead to significant financial penalties and reputational damage for ModivCare, potentially impacting its stock price. Investors who suffered losses may recover compensation through the legal action initiated by Levi & Korsinsky.

Healthcare Legal Services
Event Summary

Levi & Korsinsky, a law firm, has initiated a class action securities lawsuit against ModivCare. The lawsuit alleges that ModivCare made false statements and concealed information regarding contracts in its NEMT segment, which led to a deterioration of free cash flow, insufficient liquidity, and negatively impacted adjusted EBITDA. The period of alleged securities fraud is between November 3, 2022, and September 15, 2024. Investors affected by these alleged actions have until March 31, 2025, to request to be appointed as lead plaintiff.

Key Actions
90 Levi & Korsinsky notifies investors of lawsuit ModivCare
Entities Involved
stock
ModivCare
ModivCare is facing a class action securities lawsuit due to alleged false statements and concealment regarding its NEMT segment contracts, which purportedly led to deteriorating free cash flow, insufficient liquidity, and negatively impacted adjusted EBITDA.
Importance 100.0 Sentiment -70.0
priv
Levi & Korsinsky
Levi & Korsinsky is the law firm notifying investors of the class action securities lawsuit against ModivCare and is seeking to recover losses on behalf of affected investors.
Importance 80.0 Sentiment 50.0
per
Joseph E. Levi
Joseph E. Levi is an attorney at Levi & Korsinsky, serving as a contact for investors interested in joining the class action lawsuit against ModivCare.
Importance 60.0 Sentiment 50.0
Relationships
Levi & Korsinsky related ↔ Joseph E. Levi
ERGEN INTELLIGENCE
Track this event live

Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.

Open Dashboard

About Ergen

Ergen is a news intelligence platform that converts raw news articles into structured data. It tracks events, entities, and the relationships between them, with sentiment and attention metrics derived from thousands of articles. Pages on this site are daily static snapshots from the platform's live database. For real-time tracking, search, and alerts, the full dashboard is at app.ergen.ai.