DCGO Investor Alert - DocGo To Restate Financial Statements

DCGO Investor Alert – DocGo To Restate Financial Statements

DocGo Investors Who Have Suffered Losses Greater Than $50,000 Are Encouraged To Contact Kehoe Law Firm, P.C. – Securities Class Action Investigation

Kehoe Law Firm, P.C. is investigating whether DocGo Inc. (“DocGo” or the “Company”) (NASDAQ: DCGO) violated federal securities laws or engaged in other unlawful business practices. 

DocGo investors with significant losses are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire.

In a Form 8-K recently filed with the SEC, DocGo reported that “. . . on November 22, 2021, the Company’s management and the audit committee of the Company’s board of directors . . . concluded that the Company’s previously issued (i) audited balance sheet as of October 19, 2020 (the ‘Post-IPO Balance Sheet’), as previously revised in [Motion Acquisition Corp.’s] Annual Report on Form 10-K, as amended, for the fiscal year ended December 31, 2020, filed with the SEC on May 28, 2021 (‘2020 Form 10-K/A No. 1’), (ii) audited financial statements included in the 2020 Form 10-K/A No. 1, (iii) unaudited interim financial statements included in Motion’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2021, filed with the SEC on June 3, 2021, (iv) unaudited interim financial statements included in Motion’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021, filed with the SEC on August 11, 2021 and (v) unaudited interim financial statements included in Motion’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2021, filed with the SEC on November 15, 2021 (collectively, the ‘Affected Periods’), should be restated to report all Public Shares as temporary equity and should no longer be relied upon.” [Emphasis added.]

DocGo also stated that “[a]s such, the Company intends to restate the financial statements for the Affected Periods in a Form 10-K/A to be filed with the SEC for the Post-IPO Balance Sheet and Motion’s audited financial statements included in the 2020 Form 10-K/A No. 1 (the ‘Form 10-K/A No. 2’) and the unaudited condensed financial statements for the periods ended March 31, 2021, June 30, 2021, and September 30, 2021 in Motion’s Amendment No. 1 to the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2021, to be filed with the SEC (the ‘Q3 Form 10-Q/A No. 1’).”

On this news, DocGo’s stock price declined significantly.  DocGo’s stock closed down more than 4% on November 23, 2021, further injuring investors.

DOCGO INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, THE COMPANY’S SECURITIES AND SUFFERED LOSSES GREATER THAN $50,000 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], OR MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE DOCGO SECURITIES CLASS ACTION INVESTIGATION OR POTENTIAL LEGAL CLAIMS.  
Kehoe Law Firm, P.C.

 

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