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DCGO.US
id: 859

DocGo (DCGO) Investor Lawsuit Follow Recent Setbacks

S.D. New York
Court
1:23-cv-09476
Case number
08 Nov 2022
Class period Start
17 Sept 2023
Class period End
26 Dec 2023
Lead Plaintiff motion deadline
  • In September 2023, DocGo's CEO, Anthony Capone, faced allegations of falsifying his professional biography, leading to his resignation. Earlier, in July 2023, NYT reported challenges in DocGo's migrant relocation efforts.
  • This news resulted in $DCGO losing its shareholder value. The first investor has claimed compensation in a NY court, accusing DocGo of inadequate executive hiring processes, overstating service efficacy, and misrepresenting financial prospects.
On September 14, 2023, the Albany Times Union published an article reporting that DocGo’s CEO Anthony Capone falsified portions of his professional biography regarding his educational history.  On the following day, DocGo disclosed Capone’s resignation as CEO.

On this news, $DCGO fell 11.76%.

Earlier, on July 30, 2023, the New York Times published an article reporting on a “rocky” start to DocGo’s migrant relocation efforts in New York City
  • The article reported that asylum-seekers 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.
  • It stated that “local authorities have expressed frustration at the lack of coordination between DocGo and agencies that could provide services to the migrants; local security guards hired by DocGo have repeatedly threatened the migrants; and finding steady work has been nearly impossible.” 
  • DocGo’s $432 million contract nearly matches the Company’s total 2022 revenue of roughly $441 million.
On this news, $DCGO fell 6.29%, damaging shareholders.

The first affected investor claimed compensation from DocGo and officers in a New York court over hiding the Company's executive hiring processes were inadequate, overstating the efficacy of its mobile health and medical transportation services and misrepresenting financial prospects.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
17 September 2023
Filing date
27 October 2023
Lead Plaintiff Deadline
26 December 2023
Collecting participants…

DocGo Inc

DocGo Inc. provides mobile health and medical transportation services for various health care providers in the United States and the United Kingdom. The company's transportation services include em...

    Ticker
    DCGO.US
    ISIN
    US2560861096
    CIK
    1822359
    Sector
    Healthcare
    Industry
    Medical Care Facilities
    Country
    USA
    Address
    35 West 35th Street, New York, NY, United States, 10001