LAWSUIT FILED: AdaptHealth Corp. Sued for Securities Fraud; Investors Should Contact Block ...
BOSTON, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Block & Leviton announces that a class action lawsuit has been filed against AdaptHealth Corp. f/k/a DFB Healthcare Acquisitions Corp. (NASDAQ: AHCO, NASDAQ: AHCOW) and certain of its officers for securities fraud. Investors who purchased shares between November 11, 2019 and July 16, 2021 and lost money are encouraged to contact the firm to learn more about how they might recover those losses. For more details, visit. https://www.blockleviton.com/cases/ahco.
What is this all about?
On July 19, 2021 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 further alleged that “[w]hile management claims (and consensus estimates reflect) an organic growth trajectory of 8-10%, AHCO is in fact experiencing double-digit organic decline. It is also, in our opinion, taking steps to obscure that decline which are expressly forbidden by the SEC.” 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.
Who is eligible?
Anyone who purchased AdaptHealth shares between November 11, 2019 and July 16, 2021 is eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What should you do next?
The deadline to seek appointment as lead plaintiff is September 27, 2021. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
If you’ve lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at email@example.com, or by phone at (617) 398-5600.
Why should you contact Block & Leviton?
Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation’s top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email firstname.lastname@example.org with any questions.
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