Judicial Findings
In March, U.S. District Judge Katherine Polk Failla found that some claims were based on “indisputably false” statements made by Capone regarding his educational background and DocGo’s Medicaid efforts. The judge noted that Capone repeatedly tied his education to DocGo’s capabilities, making it plausible that investors could have viewed this information as altering the “total mix” of available information.
Other securities fraud claims, including all allegations against DocGo executives Stan Vashovsky and Andre Oberholzer, were dismissed. The court found insufficient evidence that the two executives knowingly acted on false statements, even if they failed to correct or monitor Capone’s statements.
Representatives of the parties did not immediately respond to requests for comment.
The proposed class is represented by Christopher M. Wood, Samuel H. Rudman, Eric I. Niehaus, Joseph J. Tull, and David A. Rosenfeld of Robbins Geller Rudman & Dowd LLP and Thomas C. Michaud of VanOverbeke Michaud & Timmony PC.
DocGo is represented by Jason J. Mendro of Gibson Dunn & Crutcher LLP. Capone is represented by Evan I. Cohen of Finn Dixon & Herling LLP.
