NEW ORLEANS, Oct. 31, 2023 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 26, 2023 to file lead plaintiff applications in a securities class action lawsuit against AdaptHealth Corp. (NasdaqCM: AHCO), if they purchased or otherwise acquired the Company’s shares (i) between August 4, 2020 and February 27, 2023, inclusive (the “Class Period”); and/or (ii) pursuant and/or traceable to the Company’s January 2021 secondary public offering (the “SPO”). This action is pending in the United States District Court for the Eastern District of Pennsylvania.
What You May Do
If you purchased or acquired shares of AdaptHealth as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqcm-ahco/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 26, 2023.
About the Lawsuit
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.
The case is Allegheny County Employees’ Retirement System v. AdaptHealth Corp., 23-cv-4104.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
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