Long-Term ModivCare, Inc. (MODV) Shareholders: Grabar Law Office Investigates Claims on Your Behalf

Philadelphia, Pennsylvania--(Newsfile Corp. - January 30, 2025) - Grabar Law Office is investigating claims on behalf of ModivCare, Inc. (NASDAQ: MODV) shareholders. The investigation concerns whether certain officers of ModivCare have breached the fiduciary duties they owed to the company.

Current ModivCare shareholders who have held ModivCare shares since prior to November 3, 2022, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award - all at no cost to them whatsoever. To learn more visit: https://grabarlaw.com/the-latest/modivcare-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085.

Why: A recently filed securities fraud class action complaint alleges that throughout the Class Period (November 3, 2022 through September 15, 2024), ModivCare misled the market to believe certain contracts used in its non-emergency medical transportation ("NEMT") segment mitigated risks to its free cash flow. In reality, the Company's free cash flow deteriorated throughout the Class Period. When the truth began to reach the market, ModivCare's stock price suffered significant declines, harming investors.

It is alleged that Defendants made materially false and/or misleading statements, as well as failed to disclose adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose 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; and (3) Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

What To Do Now: Current ModivCare (NASDAQ: MODV) shareholders who have held ModivCare shares since prior to November 3, 2022, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award - all at no cost to them whatsoever.

If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/methode-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085.

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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239100