An investigation on behalf of investors in InnovAge Holding Corp. (NASDAQ:INNV) shares over potential wrongdoing at InnovAge Holding Corp. was announced.
San Diego, CA -- (SBWIRE) -- 09/20/2022 -- An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at InnovAge Holding Corp.
Investors who purchased shares of InnovAge Holding Corp. (NASDAQ: INNV) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain InnovAge Holding Corp. (NASDAQ: INNV officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
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.
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