NEW YORK, NY / ACCESSWIRE / September 20, 2023 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of DocGo Inc. ("DocGo" or "the Company") NASDAQ:DCGO). Investors who purchased DocGo securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/dcgo.
The investigation concerns whether DocGo has violated federal securities laws.
Investigation Details:
On July 30, 2023, the New York Times published an article reported on 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. Specifically, the article stated that "[l]ocal 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. Following publication of the New York Times article, DocGo's stock price fell $0.53 per share, or 6.29%, to close at $7.89 per share on July 31, 2023. Then, on September 14, 2023, the Albany Times Union published an article reporting that DocGo's Chief Executive Officer ("CEO") Anthony Capone had falsified portions of his professional biography regarding his educational history. On the following day, September 15, 2023, DocGo disclosed Capone's resignation as CEO in a filing with the U.S. Securities and Exchange Commission. On this news, DocGo's stock price fell $0.76 per share, or 11.76%, to close at $5.70 per share on September 15, 2023.
What's Next?
If you are aware of any facts relating to this investigation or purchased DocGo securities, you can assist this investigation by visiting the firm's site:www.bgandg.com/dcgo. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
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Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC