Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of shareholders of AdaptHealth Corp. who purchased shares between August 4, 2020 and February 27, 2023.
AdaptHealth and certain of its executives are charged with failing to disclose material information during the Class Period and/or in the Registration Statement and Prospectus issued in conjunction with the Offerings, violating federal securities laws.
On February 27, 2023, post-market, the Company disclosed disappointing financial news including a loss of $0.02 per share for 4Q 2022, significantly lower than expectations, and reduced revenue guidance for 2023, due to “tempered expectations on diabetes.”
On this news, the price of AdaptHealth’s shares plummeted by $5.99 per share, or 27%, from $21.98 per share to $15.99 per share.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until December 26, 2023 to request that the court appoint them lead plaintiff.