DocGo Inc. Class Action Alert: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against DocGo Inc.
Upcoming Lead Plaintiff Deadline is December 26, 2023
NEW YORK, Nov. 7, 2023 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein") announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of those who acquired DocGo Inc. ("DocGo" or the "Company") (NASDAQ: DCGO) securities during the period from November 8, 2022 through September 17, 2023, inclusive (the "Class Period").
All investors who purchased shares and incurred losses are advised to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses, you may, no later than December 26, 2023, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
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The filed complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- DocGo's executive hiring processes were inadequate to fully review and vet the professional and academic backgrounds of job candidates;
- This increased the likelihood of disruptive executive turnover;
- Contrary to DocGo's representations to investors, DocGo had overstated the efficacy of its mobile health and medical transportation services; and
- all of the above, once revealed, was likely to subject DocGo to significant reputational and/or regulatory scrutiny that would negatively impact DocGo's financial position and/or prospects.
On July 30, 2023, The New York Times, published an article reporting that "[l]ocal authorities have expressed frustration at the lack of coordination between DocGo and agencies that could provide services to the migrants; local security guards hired by DocGo have repeatedly threatened the migrants; and finding steady work has been nearly impossible."
Following the publication of The New York Times article, the price of DocGo stock fell more than 6%.
On September 6, 2023, New York City Comptroller Brad Lander announced that his office was declining to approve the Relocation Contract. According to the complaint, New York City Mayor Eric Adams had the authority to proceed with the Relocation Contract over Comptroller Lander's objections and ultimately did so. On this news, the price of DocGo stock fell more than 7%.
On September 14, 2023, the Albany Times Union published an article reporting that former DocGo CEO, defendant Anthony Capone, had falsified portions of his professional biography regarding his educational history. On the following day, September 15, 2023, DocGo disclosed Capone's resignation as CEO. On this news, the price of DocGo stock fell nearly 12%.
Then on September 18, 2023, Comptroller Lander announced that his office was commencing a real-time audit of operations and invoices incurred by DocGo in connection with its Relocation Contract. Specifically, Comptroller Lander noted that his office has "serious concerns about the selection of this vendor and its performance in contract duties." On this news, the price of DocGo stock fell more than 7%.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at [email protected].
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
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