NEW YORK–(BUSINESS WIRE)–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against InnovAge Holding Corp. (“InnovAge” or the “Company”) (NASDAQ: INNV) on behalf of InnovAge stockholders. Our investigation concerns whether InnovAge has violated the federal securities laws and/or engaged in other unlawful business practices.
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On September 21, 2021, after the market closed, InnovAge revealed that the Centers for Medicare and Medicaid Services (“CMS”) had “determined to freeze new enrollments at [the Company’s] Sacramento center based on deficiencies detected in [a recent] audit.” The Company 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, the Company’s stock price fell $2.90, or nearly 25%, to close at $8.75 per share on September 22, 2021, thereby injuring investors.
If you purchased or otherwise acquired InnovAge shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.