NEW YORK, Nov. 05, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of AdaptHealth Corp. (“AdaptHealth” or the “Company”) (NASDAQ: AHCO). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether AdaptHealth and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On January 5, 2021, AdaptHealth conducted a secondary public offering, issuing approximately 8 million shares of the Company’s class A common stock at a price of $33.00 per share,
Then, on February 27, 2023, AdaptHealth announced a loss of $0.02 per share for the fourth quarter of 2022, substantially lower than the gain of $0.27 per share that analysts and investors were led to expect. AdaptHealth also reduced its guidance for 2023, lowering revenue expectations the Company had provided just seven weeks earlier by over 1.5%. The Company attributed the poor financial results and lowered guidance to “lower diabetes growth in the second half than [] anticipated.”
These disclosures caused the Company’s share price to decline by $5.99 per share, or 27%, from $21.98 per share to $15.99 per share.
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 numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Robert S. Willoughby
Pomerantz LLP
888-476-6529 ext. 7980
