NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against DocGo, Inc. (“DocGo” or the “Company”) (NASDAQ: DCGO). The investigation concerns whether DocGo and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
DocGo, Inc. operates as a health care distribution company. The Company offers mobile health services and integrated medical mobility solutions.
On July 30, 2023, the New York Times published an article reporting 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. On this news, the price of DocGo shares declined by $0.36 per share, or approximately 4.11%, from $8.75 per share to close at $8.39 on July 31, 2023.
On September 6, 2023, the New York City Comptroller announced that it rejected the $432 million contract with DocGo, citing that “there was little evidence to show” that the Company had the experience and fiscal capacity to provide the migrant relocation services it had been contracted for. On this news, the price of DocGo shares declined by $0.61 per share, or approximately 7.48%, from $8.16 per share to close at $7.55 on September 6, 2023.
Then, on September 15, 2023, DocGo Chief Executive Officer, Anthony Capone, resigned for personal reasons. Capone’s resignation came shortly after Capone confirmed that he does not have a graduate degree in computational learning despite previously claiming that he did in his official biography on DocGo’s website, in filings with the U.S. Securities and Exchange Commission, and to the Albany Times Union. On this news, the price of DocGo shares declined by $0.76 per share, or approximately 11.76%, from $6.46 per share to close at $5.70 on September 15, 2023.
If you purchased or otherwise acquired DocGo securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: https://www.kmllp.com.
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