InnovAge Holding Corp.
(NASDAQ GS: INNV)
Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of InnovAge Holding Corp. ("InnovAge") on behalf of stockholders. A class action complaint has been filed against InnovAge, which alleges that the registration statement and prospectus (collectively, the "Registration Statement") filed in connection with InnovAge's IPO was materially false and misleading and omitted to state that: (i) certain of InnovAge's facilities failed to provide covered services, provide accessible and adequate services, manage participants' medical situations, and oversee use of specialists; (ii) as a result, InnovAge was reasonably likely to be subject to regulatory scrutiny, including by the Centers for Medicare and Medicaid Services ("CMS"); (iii) thus, there was a significant risk that CMS would suspend new enrollments pending an audit of InnovAge's services; and (iv) as a result of the foregoing, defendants' positive statements about InnovAge's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.