If you suffered losses in DocGo stock, contact DocGostock loss lawyer Timothy L. Miles about a DocGoclass action lawsuit
Everything You Need to Know about the 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. 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.
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 TheNew 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%.
WHAT IS 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.
WHAT ARE MY CHOICES IF I RECEIVE A NOTICE IN THE DocGo CLASS ACTION LAWSUIT?
First, read the notice very carefully. You have two choices. First, you can do nothing and remain a member of the class represented by lead counsel. Second, if you believe you have a large enough loss to justify it, you can opt out of the DocGo class action lawsuit and file your own separate lawsuit. Note, that if you opt out, you will not be able to participate in any settlement or recovery obtained in the DocGo class action lawsuit.
IF I RECEIVE A SETTLEMENT FROM FINRA CAN I STILL PARTICIPATE IN THE DOCGO LAWSUIT?
Yes, the acceptance of restitution or compensation from a FINRA regulatory settlement does not waive your right to monetary or other benefits through the courts, arbitration, or mediation. Therefore, even if you received a settlement from FINRA, you can still participate in the DocGo lawsuit.
what is the lead plaintiff process in the DocGo class action lawsuit?
If you suffered losses in DocGo stock, call a DocGo
Stock Loss Lawyer about a DocGo class action lawsuit
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 actionlawsuit if you suffered losses in DocGo stock.
Can a Non-U.S. Investor Serve as a Lead plaintiff in the Docgo Class action lawsuit Lead if they suffered losses in DocGo stock?
WHAT RESPONSIBILITIES WILL THE LEAD PLAINTIFF HAVE IN THE DOCGO CLASS ACTION LAWSUIT?
A Lead Plaintiff owes a fiduciary duty to the class, and therefore, must act in the best interest of the class in the DocGo class action lawsuit. Some of the responsibilities of the Lead Plaintiff in the DocGo class action lawsuit include:
Selecting, monitoring, and overseeing Lead Counsel.
Reviewing and commenting on court filings on behalf of the class.
Discussing litigation strategies with the Lead Counsel.
Attending depositions (if necessary) and giving a deposition.
Attending hearings (if necessary).
Participating in mediation and the trial (if necessary).
Provide input on any decision concerning the settlement of the securities class action.
If I Suffered Losses in DocGo Stock, What Are the Benefits of Serving as Lead Plaintiff in the DocGo Class Action lawsuit?
Serving as a 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 reformresulting from the litigation.
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against DocGoif you suffered losses in DocGo stock.
Can I Be Appointed Lead Plaintiff in the DocGo Class Action Lawsuit if I Purchased Shares Outside of the Class Period?
Will the Lead Plaintiffs Get More Money than Class Members if the DocGo Class Action Lawsuit?
No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the DocGoclass 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.
Can I Be Lead Plaintiff in the DocGo class action lawsuit if I am Lead Plaintiff in Another Case?
Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in DocGo stock, you may move to be appointed lead plaintiff in the DocGo class action Lawsuit.
Can the Court Appoint More than One Lead Plaintiff in the DocGo Lawsuit?
How Was the Class Period Determined in 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.
CAN I SELL MY STOCK AND STILL BE A MEMBER OF THE CLass in the docgo LAWSUIT?
Yes. There is no requirement for you to retain ownership of the stock after the class period has expired to participate in the DocGo lawsuit.
How Can a DocGo Stock Loss Lawyer Help Me if I Suffered Losses in DocGo Stock?
A DocGo stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.