Taking a deep dive into the DOCGO CLASS ACTION LAWSUIT

If you suffered losses in DocGo stock, contact DocGo stock loss lawyer Timothy L. Miles about a DocGo class action lawsuit

introduction to the DOCGO CLASS ACTION LAWSUIT

Contact a DocGo stock loss lawyer about a DocGo class action lawsuit

​The DocGo class action lawsuit seeks to represent purchasers or acquirers of DocGo Inc. (NASDAQ: DCGO) securities between November 8, 2022 and September 17, 2023, both dates inclusive (the “Class Period”).  Captioned Naclerio v. DocGo Inc., No. 23-cv-09476 (S.D.N.Y.), the DocGo class action lawsuit charges DocGo and certain of its top current and former executive officers with violations of the Securities Exchange Act of 1934.
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If you suffered losses in DocGo stock and wish to serve as lead plaintiff in the DocGo class action lawsuit, please contact DocGo Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the DocGo class action lawsuit must be filed with the court no later than December 26, 2023.

Read on as we take a deep dive and discuss everything a DocGo investor needs to know about the DocGo class action lawsuit.

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the ALLEGATIONS IN THE DOCGO CLASS ACTION LAWSUIT

DocGo offers mobile health and medical transportation services for various health care providers in the United States and the United Kingdom.  According to the complaint, in spring 2023, New York City awarded DocGo a no-bid $432 million contract (the “Relocation Contract”) that took effect in early May 2023.

The DocGo class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) DocGo’s executive hiring processes were inadequate to fully review and vet the professional and academic backgrounds of job candidates; (ii) this increased the likelihood of disruptive executive turnover; (iii) contrary to DocGo’s representations to investors, DocGo had overstated the efficacy of its mobile health and medical transportation services; and (iv) all of the above, once revealed, was likely to subject DocGo to significant reputational and/or regulatory scrutiny that would negatively impact DocGo’s financial position and/or prospects. The DocGo class action lawsuit further alleges that on July 30, 2023, The New York Times, published an article reporting that “[l]ocal authorities have expressed frustration at the lack of coordination between DocGo and agencies that could provide services to the migrants; local security guards hired by DocGo have repeatedly threatened the migrants; and finding steady work has been nearly impossible.”  The DocGo class action lawsuit alleges that following the publication of The New York Times article, the price of DocGo stock fell more than 6%.

The DocGo class action lawsuit also alleges that on September 6, 2023, New York City Comptroller Brad Lander announced that his office was declining to approve the Relocation Contract.  According to the complaint, New York City Mayor Eric Adams had the authority to proceed with the Relocation Contract over Comptroller Lander’s objections and ultimately did so.  The DocGo class action lawsuit alleges that on this news, the price of DocGo stock fell more than 7%.

The DocGo class action lawsuit further alleges that on September 14, 2023, the Albany Times Union published an article reporting that former DocGo CEO, defendant Anthony Capone, had falsified portions of his professional biography regarding his educational history.  According to the complaint, on the following day, September 15, 2023, DocGo disclosed Capone’s resignation as CEO.  The DocGo class action lawsuit alleges that on this news, the price of DocGo stock fell nearly 12%.

​The DocGo class action lawsuit further alleges that on September 18, 2023, Comptroller Lander announced that his office was commencing a real-time audit of operations and invoices incurred by DocGo in connection with its Relocation Contract.  Specifically, Comptroller Lander noted that his office has “serious concerns about the selection of this vendor and its performance in contract duties,” the complaint alleges.  The ​DocGo class action lawsuit alleges that on this news, the price of DocGo stock fell more than 7%.

THE LEAD PLAINTIFF DEADLINE IN THE DOCGO CLASS ACTION LAWSUIT

​​When a securities class action is filed such as the DocGo class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class in the DocGo class action lawsuit must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published. 

THE LEAD PLAINTIFF PROCESS IN THE DOCGO CLASS ACTION LAWSUIT

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in DocGo stock to seek appointment as lead plaintiff in the DocGo class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. 
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​A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in DocGo stock and have further questions, contact DocGo​ stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in a DocGo class action lawsuit if you suffered losses in DocGo​ stock.

THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE DOCGO CLASS ACTION LAWSUIT

Serving as Lead Plaintiff in the DocGo class action lawsuit has several advantages and important benefits including:

• A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
• Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
• There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred it the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
• Lead Plaintiff has the benefit involved and active in all negotiations relating to any settlement.
• Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reform resulting from the litigation. 

Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against DocGo​ if you suffered losses in DocGo​ stock.

THE LEAD PLAINTIFFS will not GET MORE MONEY THAN CLASS MEMBERS IF THE DOCGO CLASS ACTION LAWSUIT

But they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the DocGo class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class.  However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the DocGo class action lawsuit on behalf of investors who suffered losses in DocGo​​ stock. ​

THE COURT may APPOINT MORE THAN ONE LEAD PLAINTIFF IN THE DOCGO LAWSUIT

​Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs to oversee the DocGo​​ lawsuit.

THE CLASS PERIOD DETERMInation THE DOCGO LAWSUIT

In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives.  The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading.  The class period ends when the truth is revealed to the investing public through a corrective disclosure.  
 
In order to be a part of the class in the DocGo​​ lawsuit, you must have suffered losses in DocGo stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against DocGo​.  ​

THE DIFFERENCE BETWEEN OBJECTING AND EXCLUDING MYSELF IN THE DOCGO CLASS ACTION LAWSUIT

​Objecting is telling the Court you do not believe the settlement in the DocGo class action lawsuit, or some part of it, is fair or reasonable.  You can file an objection only if you stay in the Class and do not exclude yourself, and you may submit a Claim Form even if you object to the settlement.  On the other hand, requesting exclusion is explicitly telling the Court you do not want to be part of the Class or the Settlement in the class action against DocGo. If you exclude yourself, you cannot object to the Settlement because you no longer have standing as you are not a class member anymore. Similarly, you cannot submit a Claim Form. If you stay in the Class and object, but your objection is overruled, you will not be allowed a second opportunity to exclude yourself.

CONTACT AN DOCGO STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN DOCGO STOCK ABOUT A DOCGO CLASS ACTION LAWSUIT

​If you suffered losses in DocGo stock, contact DocGo stock loss lawyer Timothy L. Miles today for a free case evaluation about a DocGo class action lawsuit. Call today and see what a DocGo stock loss lawyer could do for you if you suffered losses in DocGo​​ stock.

DocGo stock loss lawyer Timothy L. Miles

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,​Class Action:  Class Action: Top 9National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022).  Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.  Please visit our website or call for free anytime.

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
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