Overview

• AdaptHealth Corp. is facing a securities class action lawsuit for allegedly failing to disclose material information and violating federal securities laws.
• The lawsuit is filed on behalf of investors who purchased or acquired the company's shares between August 4, 2020 and February 27, 2023, and/or pursuant to the company's January 2021 secondary public offering.
• The company is accused of overcharging CMS and other insurance providers by submitting improper billing codes for diabetes equipment.
• On February 27, 2023, the company disclosed 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.'
• Investors have until December 26, 2023 to apply to the court to be appointed as lead plaintiff in the lawsuit.