A lawsuit was filed on behalf of investors in AdaptHealth Corp. (NASDAQ:AHCO) shares over alleged securities laws violations.

San Diego, CA -- (SBWire) -- 11/08/2023 --An investor, who purchased shares of AdaptHealth Corp. (NASDAQ: AHCO), filed a lawsuit over alleged violations of Federal Securities Laws by AdaptHealth Corp..

Investors who purchased shares of AdaptHealth Corp. (NASDAQ: AHCO) have certain options and for certain investors are short and strict deadlines running. Deadline: December 26, 2023. NASDAQ: AHCO investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Plymouth Meeting, PA based AdaptHealth Corp., together with its subsidiaries, provides home medical equipment (HME), medical supplies, and home and related services in the United States. AdaptHealth Corp. sells medical devices directly to patients, and then bills patients' insurance providers, including the Centers for Medicare and Medicaid Services ("CMS").

On February 27, 2023, AdaptHealth Corp. announced a loss of $0.02 per share for the fourth quarter of 2022, which was significantly lower than the gain of $0.27 per share that analysts and investors were led to expect. AdaptHealth Corp. also reduced its guidance for 2023, lowering revenue expectations it had provided just seven weeks earlier by over 1.5%. AdaptHealth attributed the miss and lowered guidance to "tempered expectations on diabetes."

Shares of AdaptHealth Corp. (NASDAQ: AHCO) declined from $23 per share in December 2022 to as low as $6.92 per share on November 01, 2023.

The plaintiff claims that between August 4, 2020 and February 27, 2023, AdaptHealth and certain of its senior executives orchestrated a scheme to overcharge CMS and other insurance providers by submitting improper billing codes for diabetes equipment, that to facilitate this scheme, AdaptHealth and certain of its senior executives made numerous false and misleading statements to investors between August 4, 2020 and February 27, 2023, and that as a result of these misrepresentations, AdaptHealth common stock traded at artificially inflated prices between August 4, 2020 and February 27, 2023.

Those who purchased shares of AdaptHealth Corp. (NASDAQ: AHCO) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.