According to the Complaint, AdaptHealth Corp. is a home medical equipment supplier providing devices for diabetes, sleep apnea, and wound care. AdaptHealth sells medical devices directly to patients, and then bills patients’ insurance providers, including the Centers for Medicare and Medicaid Services (“CMS”).

Plaintiff brings this securities class action on behalf of all persons or entities who purchased or otherwise acquired: (i) AdaptHealth common stock during the Class Period; and/or (ii) AdaptHealth common stock pursuant and/or traceable to the Company’s secondary public offering conducted on or around January 5, 2021.

The Complaint alleges that, throughout the Class Period, AdaptHealth and certain of its senior executives orchestrated a scheme to overcharge CMS and other insurance providers by submitting improper billing codes for diabetes equipment. The Complaint further alleges that to facilitate this scheme, AdaptHealth and certain of its senior executives made numerous false and misleading statements to investors during the Class Period, and that as a result of these misrepresentations, AdaptHealth common stock traded at artificially inflated prices during the Class Period.

On January 23, 2024, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on May 14. Lead Plaintiff re-filed the amended Complaint on May 23.