(INNV) Denver-Based Berens Law LLC Encourages InnovAge Shareholders to Consider Their Legal Options With Respect to the Pending Class Action Lawsuit - Yahoo Finance

DENVER, Nov. 06, 2021 (GLOBE NEWSWIRE) -- Denver-based Berens Law LLC (www.jberenslaw.com/) today encouraged investors who purchased InnovAge Holding Corp. (NASDAQ: INNV) common stock pursuant and traceable to the company’s March 2021 initial public offering (the “IPO”) to consider their legal options in connection with the securities class action pending in federal district court in Denver, Colorado.

What actions may I take at this time? Purchasers of InnovAge common stock may, among other things: (i) seek to be appointed by the court as the “lead plaintiff” in the class action (on or before December 13, 2021); (ii) opt-out of the class action and pursue individual claims; or (iii) do nothing at this time and remain in the class action as absent class members. Factors relevant to an investor’s decision may include size of losses, timing of purchases, and/or the amount of effort the investor is willing to expend to attempt to recover its losses.

For a free consultation regarding your legal options, please contact Jeffrey A. Berens, Esq., at 303-861-1764, via email at [email protected], or [click here] to submit your InnovAge trades and contact information.

What are the allegations in the complaint? According to the complaint, InnovAge’s registration statement for its IPO misrepresented and failed to disclose that: (1) certain InnovAge facilities failed to provide covered services, provide accessible and adequate services, manage participants’ medical situations, and oversee the use of specialists; (2) as a result, the company was reasonably likely to be subject to regulatory scrutiny, including by the Centers for Medicare and Medicaid Services; (3) there as a significant risk that CMS would suspend new enrollments pending an audit of the company’s services; and (4) the registration statement’s positive statements about the company’s business, operations, and prospects, were incomplete, materially misleading and lacked a reasonable basis.

source: https://finance.yahoo.com/news/innv-denver-based-berens-law-180000238.html

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