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RADNOR, Pa., Sept. 23, 2021 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of shareholders of InnovAge Holding Corp. (NASDAQ: INNV) (“InnovAge”).
InnovAge manages and provides a range of medical and ancillary services for seniors in need of care and support to live independently in their homes and communities.
On September 21, 2021, after the market closed, certain InnovAge executive officers participated in an earnings conference call. During the conference call, Maureen Hewitt, InnovAge’s president and Chief Executive Officer, revealed that the Centers for Medicare and Medicaid Services had “determined to freeze new enrollments at [InnovAge’s] Sacramento center based on deficiencies detected in [a May 2021] audit.” Ms. Hewitt 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.”
Following this news, InnovAge’s stock price fell $2.90, or nearly 25%, to close at $8.75 per share on September 22, 2021.
If you are an InnovAge investor and would like to learn more about our investigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453; toll free at (844) 887-9500; via e-mail at firstname.lastname@example.org; or please visit the following link to fill out our online form: https://www.ktmc.com/innovage-holding-corp-investigation?utm_source=PR&utm_medium=link&utm_campaign=innovage
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087