San Diego, CA -- (SBWIRE) -- 08/30/2022 -- An update was announced in the lawsuit that is pending for certain investors in InnovAge Holding Corp. (NASDAQ: INNV) shares.

Investors who are current long term investors in InnovAge Holding Corp. (NASDAQ: INNV) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On October 14, 2021, a lawsuit was filed against InnovAge Holding Corp. over alleged violations of Federal Securities Laws in connection with the Company's March 2021 initial public offering ("IPO").

The plaintiff claims that the Defendants failed to disclose to investors 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, that, as a result, the Company was reasonably likely to be subject to regulatory scrutiny, including by the Centers for Medicare and Medicaid Services, that, as a result, there as a significant risk that CMS would suspend new enrollments pending an audit of the Company's services, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

On June 21, 2022, an amended complaint was filed.

Those who purchased shares of InnovAge Holding Corp. (NASDAQ: INNV) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.