INNV Investors Have Opportunity to Lead InnovAge Holding Corp. Securities Lawsuit
Investors in InnovAge Holding Corp (INNV) with substantial losses may lead a securities fraud class action lawsuit, as announced by Glancy Prongay & Murray LLP. The relevant period concerns the company's IPO in March 2021, with a lead plaintiff deadline set for December 13, 2021. The lawsuit alleges that InnovAge failed to disclose critical service inadequacies and risks of regulatory scrutiny from CMS, which could affect operations and enrollment. Stakeholders are encouraged to submit their contact information for participation in the lawsuit.
- None.
- The company allegedly failed to disclose that some facilities did not provide adequate services.
- InnovAge may face regulatory scrutiny from CMS due to service inadequacies.
- A significant risk exists that CMS could suspend new enrollments pending audit results.
LOS ANGELES, Nov. 18, 2021 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") 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).
Relevant Period: March 2021 IPO
Lead Plaintiff Deadline: December 13, 2021
If you wish to serve as lead plaintiff of the InnovAge lawsuit, you can submit your contact information at www.glancylaw.com/cases/innovage-holding-corp/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
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.
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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 Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE Glancy Prongay & Murray LLP
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