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News  ›  GlobeNewswire Inc.

Court Approves $27M Cash Settlement in InnovAge Securities Fraud Class Action

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Cohen Milstein Sellers & Toll Pllc
Court Approves $27M Cash Settlement in InnovAge Securities Fraud Class Action

A federal judge approved a $27 million settlement in a securities fraud class action against InnovAge Holding Corp., alleging false statements about patient care and enrollment, which led to a 78% stock drop.

Insights
PLTR   neutral

Strong AI platform growth with 121% commercial segment acceleration, but expensive at 179x next year's earnings


INNV   negative

Company faced a significant securities fraud lawsuit, resulting in a $27 million settlement, allegations of concealing critical patient care information, and a 78% stock price collapse