Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, is investigating whether InnovAge Holding Corp. (“InnovAge” or the “Company”) (NASDAQ: INNV) and certain of its officers and directors violated federal securities laws by making materially misleading statements to investors. If you purchased or otherwise own InnovAge stock, and have suffered a loss, you are encouraged to contact attorney Jonathan Zimmerman at (888) 398-9312 for more information.
InnovAge is a healthcare delivery platform focused on providing care to seniors.
On September 21, 2021, after the market closed, InnovAge held a conference call to discuss its quarterly earnings. On that call, InnovAge’s president and Chief Executive Officer, Maureen Hewitt, revealed that the Centers for Medicare and Medicaid Services had “determined to freeze new enrollments at [InnovAge’s] Sacramento center based on deficiencies detected in [a May 2021] audit.” Ms. Hewitt stated that these “deficiencies relate to failures to provide covered services, provide accessible and adequate services, manage participants’ medical situations, and oversee use of specialists, among others.”
On this news, InnovAge’s stock price fell $2.90 — nearly 25% — to close at $8.75 per share on September 22, 2021.
What You Can Do
If you purchased or otherwise own InnovAge stock, and you wish to discuss this investigation, please contact attorney Jonathan Zimmerman at (888) 398-9312, or at email@example.com.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, Virginia, California, and Ohio.
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