SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of DocGo Inc. - DCGO
News provided byACCESSWIRE
Sep 19, 2023, 5:15 PM ET
NEW YORK, NY / ACCESSWIRE / September 19, 2023 / Pomerantz LLP is investigating claims on behalf of investors of DocGo Inc. ("DocGo" or the "Company") (NASDAQ:DCGO). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether DocGo and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 30, 2023, the New York Times published an article reporting on a "rocky" start to DocGo's migrant relocation efforts in New York City. The New York Times article reported that asylum-seekers have complained of threats and "broken promises" after New York City awarded DocGo a no-bid $432 million contract in May to move migrants outside the city. Specifically, the article stated 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[.]" DocGo's $432 million contract nearly matches the Company's total 2022 revenue of roughly $441 million.
Following publication of the New York Times article, DocGo's stock price fell $0.53 per share, or 6.29%, to close at $7.89 per share on July 31, 2023.
Then, on September 14, 2023, the Albany Times Union published an article reporting that DocGo's Chief Executive Officer ("CEO") Anthony Capone had falsified portions of his professional biography regarding his educational history. On the following day, September 15, 2023, DocGo disclosed Capone's resignation as CEO in a filing with the U.S. Securities and Exchange Commission.
On this news, DocGo's stock price fell $0.76 per share, or 11.76%, to close at $5.70 per share on September 15, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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