INVESTIGATION ALERT: Kaskela Law LLC Announces Stockholder Investigation of InnovAge Holding Corp. (INNV) and Encourages Long-Term INNV Investors to Contact the Firm

PHILADELPHIA, PA / ACCESSWIRE / March 6, 2022 / Investor protection law firm Kaskela Law LLC announces that it is investigating InnovAge Holding Corp. INNV ("InnovAge" or the "Company") on behalf of the Company's stockholders.

In March 2021, InnovAge completed its initial public offering ("IPO") of common stock, selling 19 million shares of stock to investors at a price of $21.00 per share.

On September 21, 2021, InnovAge revealed that the Centers for Medicare and Medicaid Services ("CMS") had "determined to freeze new enrollments at [the Company's] Sacramento center based on deficiencies detected in [a recent] audit." Reportedly, such "deficiencies relate to failures to provide covered services, provide accessible and adequate services, manage participants' medical situations, and oversee use of specialists, among others." Following this news, shares of the Company's stock fell $2.90 per share, or 25% in value, to close at $8.75 per share on September 22, 2021, on unusually heavy trading volume.

Current InnovAge stockholders who purchased or acquired shares of the Company's stock prior to September 21, 2021 are encouraged to contact Kaskela Law LLC (Adrienne Bell, Esq.) at (484) 229 - 0750, or by email (abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/innovage-holding-corp/ , for additional information about this investigation and their legal rights and options.

Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation.  For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.

CONTACT: 

D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 - 1740
(484) 229 - 0750
www.kaskelalaw.com

SOURCE: Kaskela Law LLC