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LOS ANGELES, September 25, 2021--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz continues its investigation of InnovAge Holding Corp. ("InnovAge" or the "Company") (NASDAQ: INNV) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On September 21, 2021, after the market closed, InnovAge revealed that the Centers for Medicare and Medicaid Services ("CMS") had "determined to freeze new enrollments at [the Company’s] Sacramento center based on deficiencies detected in [a recent] audit." The Company 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."
On this news, the Company’s stock price fell $2.90, or nearly 25%, to close at $8.75 per share on September 22, 2021, thereby injuring investors.
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If you purchased InnovAge securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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