According to the Complaint, ModivCare, Inc. provides a suite of integrated supportive care solutions for public and private payors and their members. This class action was filed against ModivCare and three of its Officers.

The Complaint 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. Specifically, the Complaint alleges Defendants failed to disclose that certain contracts used in ModivCare’s non-emergency medical transportation (“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.