Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises DocGo Inc. (“DocGo” or the “Company”) (NASDAQ: DGCO) investors that a lawsuit filed on behalf of investors that purchased DocGo securities between November 8, 2022 and September 17, 2023, inclusive (the “Class Period”)
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
- DocGo is a company that offers mobile health and medical transportation services to healthcare providers in the U.S. and the United Kingdom. In November 2022, there was a leadership transition with Anthony Capone becoming the CEO. In spring 2023, New York City awarded DocGo a $432 million contract to relocate international migrants outside the city, which included providing various services.
- The complaint alleges that throughout a certain period, DocGo and its executives made false and misleading statements about their business operations and compliance policies. Specifically, it is claimed that they did not adequately review job candidates' backgrounds, leading to disruptive executive turnover. They also allegedly overstated the effectiveness of their services, which were part of the Relocation Contract. These alleged misrepresentations were expected to result in reputational and regulatory issues for DocGo.
- On July 30, 2023, The New York Times published an article detailing problems with DocGo's migrant relocation efforts, causing DocGo's stock price to drop. In August 2023, the New York Attorney General initiated an investigation into DocGo's handling of the contract. On September 6, 2023, New York City Comptroller Brad Lander declined to approve the contract due to concerns about its value and the selection of the vendor. This decision was ultimately overruled by the Mayor. DocGo's stock price fell again on this news.
- Later in September 2023, it was revealed that Defendant Capone had falsified parts of his professional biography, leading to his resignation as CEO. Comptroller Lander also announced a real-time audit of DocGo's operations related to the contract, causing further declines in the company's stock price.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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