LOS ANGELES, September 23, 2021– (COMMERCIAL THREAD) –Glancy Prongay & Murray LLP (“GPM”), a leading national law firm specializing in shareholder rights, today announced that it has opened an investigation on behalf of investors in InnovAge Holding Corp. (“InnovAge” or the “Company”) (NASDAQ: INNV) regarding the Company’s possible violations of federal securities laws.
If you have suffered a loss on your InnovAge investments or would like to inquire about the possibility of pursuing claims to recover your loss under federal securities laws, you can submit your contact details to https://www.glancylaw.com/cases/innovage-holding-corp/. You can also contact Charles H. Linehan of GPM at 310-201-9150, toll free at 888-773-9224, or by email at [email protected] to learn more about your rights.
On September 21, 2021, after the market closed, InnovAge revealed that the Centers for Medicare and Medicaid Services (“CMS”) had “determined to freeze new registrations at [the Companyâs] Sacramento center based on the deficiencies detected in [a recent] audit. The company said that these “shortcomings are related to the inability to provide covered services, to provide accessible and adequate services, to manage the medical situation of the participants and to supervise the use of specialists, among others.”
Following this news, the Company’s share price fell $ 2.90, or nearly 25%, to close at $ 8.75 per share on September 22, 2021, hurting investors.
Notice of denunciation: Those with non-public information regarding InnovAge should consider their options to facilitate the investigation or take advantage of the SEC’s whistleblower program. Under the program, whistleblowers who provide original information can receive rewards totaling up to 30% of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected]
Glancy Prongay & Murray LLP is a leading law firm that represents investors and consumers in securities litigation and other complex class actions. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 report. In 2018, GPM was ranked among the top five law firms for the number of securities class action settlements and among the top six law firms. ‘lawyers for the total amount of settlements in dollars. With four offices across the country, nearly 40 GPM lawyers have won groundbreaking decisions and recouped billions of dollars for investors and consumers in securities, antitrust, consumer and employment class actions. GPM lawyers have dealt with cases covering a wide range of professional misconduct, including cases involving financial restatements, internal control weaknesses, profit management, fraudulent profit claims and forward-looking statements, auditor misconduct , insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM attorneys have worked on securities cases involving nearly all industries and sectors of the financial markets, including energy, consumer discretionary, consumer staples, real estate and REITs, finance, insurance, information technology, healthcare, biotechnology, cryptocurrency, medical devices, and many more. GPM’s past successes have been covered extensively by major news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Business Week, Reuters, the Associated press, Barron, Daily Investor Affairs, Forbes, and Money.
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