INNV Investors Have Opportunity to Lead InnovAge Holding Corp. Securities Lawsuit
InnovAge Holding Corp. (NASDAQ: INNV) faces a securities fraud class action lawsuit initiated by investors. The class period began with the company's IPO in March 2021, and investors have until December 13, 2021, to take action. Allegations claim that InnovAge failed to disclose critical operational issues, including inadequate services and potential regulatory scrutiny from the Centers for Medicare and Medicaid Services. These omissions may have misled investors regarding the company's financial stability and growth prospects.
- None.
- Allegations of insufficient services at InnovAge facilities could lead to regulatory scrutiny from CMS.
- Risk of CMS suspension of new enrollments pending an audit, affecting revenue potential.
- Defendants' statements about the company were allegedly misleading and lacked a reasonable basis.
BENSALEM, Pa., Dec. 9, 2021 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against InnovAge Holding Corp. ("InnovAge" or the "Company") (NASDAQ: INNV).
Class Period: March 2021 IPO
Lead Plaintiff Deadline: December 13, 2021
Investors suffering losses on their InnovAge investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
The complaint filed alleges that the defendants failed to disclose to investors: (1) that certain of InnovAge's facilities failed to provide covered services, provide accessible and adequate services, manage participants' medical situations, and oversee use of specialists; (2) that, as a result, the Company was reasonably likely to be subject to regulatory scrutiny, including by the Centers for Medicare and Medicaid Services; (3) that, as a result, there as a significant risk that CMS would suspend new enrollments pending an audit of the Company's services; and (4) that, as a result of the foregoing, the defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
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SOURCE Law Offices of Howard G. Smith
FAQ
What is the deadline for investors to join the InnovAge securities fraud class action lawsuit?
What are the main allegations against InnovAge in the lawsuit?
What could the regulatory scrutiny from CMS mean for InnovAge investors?
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