Securities class action litigation has been filed on behalf of investors who purchased or otherwise acquired the securities of DocGo Inc. (“DocGo” or the “Company”) (Nasdaq: DCGO) between November 8, 2022 and September 17, 2023, inclusive (the “Class Period”).
If you purchased the securities of DocGo during the Class Period, you may move the Court for appointment as lead plaintiff by no later than December 26, 2023.
A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the actions will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
DocGo investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff should complete the form below, text or email firstname.lastname@example.org, or call Lieff Cabraser partner Sharon M. Lee at 1-800-541-7358.
DocGo provides mobile health and medical transportation services. In spring 2023, the city of New York awarded a no-bid $432 million contract (the “Relocation Contract”) to DocGo to house international migrants and provide them with case management, medical care, food, transportation, lodging, and security services.
The action alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) DocGo failed to adequately vet the professional and academic backgrounds of job candidates; (ii) this failure increased the likelihood of executive turnover; (iii) the Company overstated the efficacy of the mobile health and medical transportation services, the same services contemplated by the Relocation Contract; and (iv) the revelation of these issues would likely cause reputational harm and/or regulatory scrutiny that would negatively impact the Company’s financial position and/or prospects.
On Sunday, July 30, 2023, the New York Times reported that there was “rocky” start to DocGo’s migrant relocation assistance in New York City, noting that “[l]ocal authorities have expressed frustration at the lack of coordination between DocGo and agencies that could provide services to the migrants; local security guards hired by DocGo have repeatedly threatened the migrants; and finding steady work has been nearly impossible[.]” On this news, the price of DocGo stock fell $0.36 per share, or 4.11%, from a previous closing price of $8.75 on July 28, 2023, to close at $8.39 per share on July 31, 2023, on elevated trading volume.
On August 22, 2023, the Albany Times Union reported that the Attorney General of New York commenced an investigation into DocGo and warned the Company to cease limiting migrants’ speech or movement.
On September 6, 2023, the New York City Comptroller’s Office announced that it was declining to approve the Relocation Contract. On this news, the price of DocGo stock fell $0.61 per share, or 7.47%, from a closing price of $8.16 on September 5, 2023, to close at $7.55 per share on September 6, 2023, on heavy trading volume.
On September 14, 2023, the Albany Times Union reported that Anthony Capone, DocGo’s then- Chief Executive Officer (“CEO”), had misrepresented his educational history.
On September 15, 2023, DocGo announced Capone’s resignation as CEO. On this news, the price of DocGo’s stock fell $0.76, or 11.76%, from a previous closing price of $6.46, to close at $5.70 per share on September 15, 2023, on heavy trading volume.
On September 18, 2023, the New York City Comptroller’s Office announced that it had begun a real-time audit of operations and invoices incurred by DocGo in connection with the Relocation Contract. On this news, the price of DocGo’s stock fell $0.41 per share, or 7.19%, to close at $5.29 per share on September 18, 2023, on heavy trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Munich, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” In 2021, The American Lawyer named our firm its “Boutique Litigation Firm of the Year.” Benchmark Litigation has named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America,” and listed us as its “2020 California Plaintiff Firm of the Year.” Lieff Cabraser is committed to ensuring access to justice for all.