They claim DocGo made misleading statements about the business to artificially inflate the value of the company, which ultimately damaged its reputation and caused stocks to fall. The investors are seeking to recoup their losses.
A DocGo spokesperson responded to the lawsuit with the following statement:
“We reject the accusations of the recently filed securities lawsuit, which follows a pattern of litigation filed reflexively after stock-price declines. We look forward to refuting the claims in court. In the meantime, we remain focused on our mission of delivering high quality, highly accessible care to all.”
Shareholders who invested after November 2022 may be eligible to join the class action lawsuit.