DCGO - Mobile Medical Services DocGo Counters Fuzzy Panda Report Asserts Fiscal Health And Growth Plans | Benzinga
Wednesday, shares of DocGo Inc (NASDAQ: DCGO), a mobile medical services and transportation company, fell following the publication of a short report by Fuzzy Panda.
The short seller has accused the company of improper fraudulent billing practices, forging signatures on patient documents, and cover-ups regarding patient care issues, among other allegations.
According to Fuzzy Panda, former DocGo employees were accused of committing Medicare and insurance fraud on multiple occasions.
The short seller claims that DocGo has managed to cover up these illegal practices by firing whistleblowers or bribing them.
The report notes that DocGo experienced a significant boost in business during FY 2021 and 2022 due to the COVID-19 pandemic.
However, the report highlights that their success faced a challenge when, in May 2023, they secured a substantial one-year "no-bid" contract to serve NYC migrant asylum seekers.
Contrary to expectations, the contract drew ...