InnovAge Holding Corp. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

SAN DIEGO, CA / ACCESSWIRE / December 9, 2021 / Robbins Geller Rudman & Dowd LLP Announces that buyers of common stock in InnovAge Holding Corp. (NASDAQ: INNV) according to and / or traceable to the registration declaration and the prospectus (together the “Registration Declaration”) in connection with the IPO of InnovAge in March 2021 (“IPO”) have until next Monday, December 13th, 2021, Time to become the lead plaintiff at McLeod v. InnovAge Holding Corp. No. 21-cv-02770. The InnovAge class action lawsuit, filed in the District of Colorado on October 14, 2021, charges InnovAge, some of its officers, and the underwriters of InnovAge’s initial public offering of violating the Securities Act of 1933.

If you are the InnovAgeClass action, please Provide your information by clicking here. You can also contact a lawyer JC Sanchez from Robbins Geller by phone at 800 / 449-4900 or by email at [email protected]. Main plaintiff motions for the InnovAgeClass action must be filed with the court by next Monday, December 13, 2021 at the latest.

CASE ALLEGATIONS: InnovAge operates a healthcare platform that purportedly takes a patient-centered treatment approach to improve the quality of care for participants. When it went public, InnovAge sold approximately 18,995,901 shares of common stock at a price of $ 21.00 per share. The proceeds from the IPO were reportedly intended to be used to repay certain debts and for general corporate purposes, including working capital, operating costs and capital expenditures.

The InnovAge class action lawsuit alleges that InnovAge’s registration statement was materially false and misleading, and omitted the following: (i) Certain InnovAge entities failed to provide Covered Services, provide accessible and appropriate services, the medical situation of participants manage and monitor the use of specialists; (ii) As a result, InnovAge was reasonably likely to have undergone regulatory review, including by the Centers for Medicare and Medicaid Services (“CMS”); (iii) there was therefore a significant risk that CMS would suspend new registrations pending a review of InnovAge’s services; and (iv) in view of the foregoing, Defendants’ positive statements about the business, operations and prospects of InnovAge were materially misleading and / or unfounded.

The story goes on

On September 21, 2021, InnovAge announced that the CMS “has decided to move new registrations [the Company’s] Sacramento Center based on identified defects in [a recent] Audit. “The company stated that these deficiencies are” related to the quality of the care given to the participants “.

THE LEAD APPLICANT PROCESS: The Private Securities Litigation Reform Act of 1995 allows any investor who has acquired and / or is traceable to InnovAge common stock pursuant to and / or attributable to the registration statement issued in connection with the IPO to seek appointment as the lead plaintiff in the InnovAge class action. A lead plaintiff is usually the applicant with the greatest financial interest in the legal protection sought by the alleged class, which is also typical and appropriate for the alleged class. A lead plaintiff is acting on behalf of all other group members in leading the InnovAge class action. The lead plaintiff can choose a law firm of their choice to bring the InnovAge class action lawsuit. An investor’s ability to participate in a possible future recovery of the InnovAge class action lawsuit does not depend on being the lead plaintiff.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 offices across the country, Robbins Geller Rudman & Dowd LLP is the largest US law firm serving investors in securities class actions. Robbins Geller’s attorneys have won many of the largest shareholder recoveries in history, including the largest securities class action of all time – $ 7.2 billion – in In re Enron Corp. Sec. Lit. The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller in first place for reclaiming $ 1.6 billion for investors last year, more than double the amount made by any other securities plaintiff firm was drafted. More information is available at http://www.rgrdlaw.com.

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Contact:

Robbins Geller Rudman & Dowd LLP
655 W. Broadway, San Diego, CA 92101
JC Sanchez, 800-449-4900
[email protected]

SOURCE: Robbins Geller Rudman & Dowd LLP

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