DocGo, Inc. (NASDAQ: DCGO)

This lawsuit is for anyone who acquired securities in of DocGo, Inc. (NASDAQ: DCGO) from November 8, 2022 through September 17, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing telling investors that that the Company could fulfill its contractual obligations to the city of New York to relocate migrants from New York, despite knowing that the Company lacked the ability to perform the contract for numerous reasons.

On July 30, 2023, the New York Times reported that DocGo’s migrant relocation efforts in New York City had a “rocky” start, with asylum-seekers claiming threats and “broken promises” after DocGo had been awarded a $432 million Relocation Contract by the City. 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[.]” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on August 22, 2023, the Albany Times Union reported that the New York Attorney General had opened an investigation into DocGo and had cautioned the Company to cease limiting migrants’ speech or movements, and had “serious concerns” regarding potential violations of state and federal laws in the Company’s handling of the Relocation Contract. Then, on September 6, 2023, New York City Comptroller Brad Lander announced that his office was declining to approve the Relocation Contract “due to numerous outstanding concerns” including “[i]nsufficient budget detail to justify over $432 million in contract value,” “[i]nconclusive reasoning as to the selection of the vendor and contradictory statements about their fiscal ability to provide contracted services,” “[i]nadequate vendor responsibility determination, contract oversight and subsequent questions about proper service delivery,” and “[i]nadequate information regarding the selection of subcontractors.” On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume. On September 14, 2023, the Albany Times Union published an article stating that DocGo’s CEO, Anthony Capone, has falsified portions of his professional biography, specifically his educational history. The following day, September 15, 2023, DocGo disclosed Capone’s resignation. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume. Finally, on September 18, 2023, Comptroller Lander announced that his office was commencing an audit of operations and invoices incurred by DocGo in connection with the Relocation Contract, noting “serious concerns about the selection of this vendor and its performance of contract duties.” On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in DocGo, Inc. (NASDAQ: DCGO) from November 8, 2022 through September 17, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.