ADAPTHEALTH CORP. SHAREHOLDERS HAVE AN OPPORTUNITY TO RECOVER THEIR INVESTMENT LOSSES CLICK HERE TO VIEW THE FIRM RÉSUMÉ OF BERNSTEIN LIEBHARD LLP.
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of those who purchased or acquired the securities of AdaptHealth Corp. (“AdaptHealth” or the “Company”) (NASDAQ: AHCO) between November 11, 2019 and July 16, 2021 (the “Class Period”). The lawsuit seeks to recover AdaptHealth shareholders’ investment losses.
If you purchased shares of AdaptHealth between November 11, 2019 and July 16, 2021 and would like to discuss your legal rights and/or options, please click “Join Class Action” above.
New York, New York — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of AdaptHealth Corp. (“AdaptHealth” or the “Company”) (NASDAQ: AHCO) from November 11, 2019 through July 16, 2021 (the “Class Period”). The lawsuit filed in the United States District Court for the Eastern District of Pennsylvania alleges violations of the Exchange Act of 1934.
The complaint alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) AdaptHealth had misrepresented its organic growth trajectory by retroactively inflating past organic growth numbers without disclosing the changes, in violation of SEC regulations; (ii) accordingly, the Company had materially overstated its financial prospects; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On July 19, 2021, before market hours, Jehoshaphat Research published a report alleging that AdaptHealth is a “roll-up” company, or a company that is built primarily through the acquisition of smaller companies with common services or products, that obscures its organic growth by “[r]etroactively changing past organic growth numbers to be higher, with no disclosure about the change.” The report also suggested that AdaptHealth’s manipulation of its organic growth trajectory was “a blatant violation of non-GAAP disclosure rules, for which companies get into huge trouble.”
On this news, AdaptHealth’s stock price fell $1.51 per share, or 5.93%, to close at $23.96 per share on July 19, 2021.
If you wish to serve as lead plaintiff, you must move the Court no later than September 27, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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