AdaptHealth $35M Securities Class Action Settlement, Are You Eligible to Claim?

AdaptHealth Corp. agreed to pay $35,000,000 to settle a federal securities class action lawsuit alleging it misled investors about its billing practices, compliance systems, and ability to integrate acquisitions. Investors who purchased AdaptHealth common stock between August 4, 2020, and November 7, 2023, may be eligible for a cash payment. The case is In re AdaptHealth Corp. Securities Litigation, Case No. 2:23-cv-04104-MRP, pending in the U.S. District Court for the Eastern District of Pennsylvania. The claim deadline is July 2, 2026.

Quick Facts

Current Status & What Happens Next

• On January 13, 2026, Judge Mia R. Perez of the U.S. District Court for the Eastern District of Pennsylvania entered an order denying the defendants’ pending motion to dismiss as moot, after the parties reached a settlement agreement.
• Lead plaintiffs filed papers with the court in December 2025 arguing the settlement should be approved as fair, reasonable, and adequate for the settlement class, citing litigation risks and uncertainty about AdaptHealth’s financial condition.
• The court must grant preliminary approval before the official claims portal opens, class notice mails, and opt-out and objection deadlines are set — investors should monitor AdaptHealthSecuritiesSettlement.com for updates.

What Is the AdaptHealth Securities Lawsuit About?

AdaptHealth Corp. is a supplier of home medical equipment for chronic health conditions including diabetes, sleep apnea, and wound care. AdaptHealth sells medical devices directly to patients and then bills patients’ insurance providers, including the Centers for Medicare and Medicaid Services (CMS).

The complaint alleges that, throughout the class period, AdaptHealth and certain senior executives inflated the company’s revenue through a series of improper tactics, including overcharging CMS for diabetes equipment, submitting reimbursement claims to insurance providers without proper documentation, altering doctors’ prescriptions and notes, and shipping unwanted and unnecessary medical equipment to patients.

Plaintiffs further allege that AdaptHealth made materially false and misleading statements and omissions about its billing practices, compliance systems and technology, ability to integrate acquisitions, revenues, and EBITDA — misrepresentations that allegedly violated federal securities laws and artificially inflated the price of AdaptHealth common stock. AdaptHealth denies all allegations of wrongdoing and agreed to settle to avoid the costs, risks, and delays of continued litigation.

Who Is Eligible to File a Claim?

The settlement class includes all persons and entities who purchased or otherwise acquired AdaptHealth Corp. common stock (Nasdaq: AHCO) during the period from August 4, 2020, through November 7, 2023, inclusive, or who acquired AdaptHealth common stock pursuant and/or traceable to the secondary public offering conducted on or around January 5, 2021.

• You may qualify if you purchased or acquired AdaptHealth (AHCO) common stock at any point between August 4, 2020, and November 7, 2023, inclusive.
• You may qualify if you acquired AHCO stock through the January 5, 2021 secondary public offering (SPO), even if you held shares outside the main class period.
• You may qualify as either an individual investor or an institutional entity — both can be class members.
• Each separate legal entity or separately managed account must submit its own individual claim form — joint beneficial owners must each sign the claim form.
• The beneficial owner of the shares — not the record owner — must submit the claim. Agents, executors, administrators, guardians, and trustees may submit claims on behalf of others and must provide proof of authority.
• Participants in and beneficiaries of any ERISA-covered employee retirement or benefit plan should not include AdaptHealth securities transactions made through an employee plan on their individual claim form — a separate process applies for plan-level claims.
• You may not qualify if you are AdaptHealth Corp. itself, its officers, directors, or anyone specifically excluded by the settlement agreement.

How Much Can You Receive?

The exact payout per share is TBD until the court grants final approval and the total number of valid claims is known. Class counsel will deduct attorneys’ fees and settlement administration costs from the $35,000,000 fund before distributing the remainder to class members.

Each class member’s payment will be calculated on a pro-rata basis, proportional to the number of shares purchased, the prices paid, and the timing of those transactions during the class period. Investors who purchased more shares, paid higher prices during the period of alleged inflation, and held shares through the corrective disclosures will generally receive a larger share of the net settlement fund than those with smaller or shorter-duration positions.

In recommending the settlement, lead plaintiffs noted they faced meaningful risks in continuing the litigation — including uncertainty about AdaptHealth’s financial condition and its ability to pay a larger judgment given the company’s insurance limits. The $35,000,000 recovery reflects those litigation realities.

How to File a Claim

⚠️ Note: The official settlement website exists at AdaptHealthSecuritiesSettlement.com, but the claims portal may not yet be fully open pending court preliminary approval. Confirm the portal is active before submitting. The confirmed claim deadline is July 2, 2026.

Step 1 — Visit AdaptHealthSecuritiesSettlement.com to access the online claim form or download a printable PDF claim form.

Step 2 — Enter your personal details, including the last four digits of your Social Security number or taxpayer identification number.

Step 3 — Provide your complete AHCO transaction history, including:

• Holdings of AdaptHealth common stock as of the opening of trading on August 4, 2020
• All purchases and acquisitions from August 4, 2020, through November 7, 2023
• All purchases and acquisitions from November 8, 2023, through February 2, 2024
• All sales from August 4, 2020, through February 2, 2024
• Holdings as of the close of trading on February 2, 2024

Step 4 — Upload supporting documentation for all your AHCO transactions, such as brokerage statements, trade confirmations, or account statements.

Step 5 — Submit your completed claim form online by July 2, 2026. If mailing, send the completed and signed claim form to: AdaptHealth Securities Litigation, c/o Kroll Settlement Administration, P.O. Box 5090, New York, NY 10150-5090.

Step 6 — Save your confirmation number and retain copies of all submitted documents for your records.

Estimated time to complete: 10–20 minutes (depending on the complexity of your transaction history).

Important Deadlines & Dates

Frequently Asked Questions

Do I need a lawyer to file a claim? 

No. You can file a claim directly through the official settlement website without hiring an attorney. Bernstein Litowitz Berger & Grossmann LLP serves as lead counsel and represents all class members at no cost to individual investors. You may hire your own attorney if you choose, but you would pay those fees yourself.

Is this settlement legitimate? 

Yes. The case is captioned In re AdaptHealth Corp. Securities Litigation, Case No. 2:23-cv-04104-MRP, and is pending before Judge Mia R. Perez in the U.S. District Court for the Eastern District of Pennsylvania. The settlement administrator is Kroll Settlement Administration, a court-recognized administrator. Always use only the official settlement website at AdaptHealthSecuritiesSettlement.com before submitting any personal or financial information.

When will I receive my payment? 

No confirmed payment date exists yet. Payments will distribute after the court grants final approval and resolves any appeals. Given the current procedural posture, investors should not expect payments before late 2026 or early 2027 at the earliest.

What if I missed the claim deadline? 

The claim deadline is July 2, 2026. Missing that deadline disqualifies you from receiving any payment from this settlement. Unless you formally opt out before the opt-out deadline, you will also release your right to bring a separate lawsuit against AdaptHealth over the same claims.

Will this settlement payment affect my taxes?

 Securities class action settlement payments may be treated as a return of capital or as taxable income depending on your specific tax situation, cost basis, and how the IRS characterizes the payment. Consult a qualified tax professional for advice on your individual circumstances before filing your taxes.

Is this the same settlement as the earlier AdaptHealth case?

 No. A separate earlier case — Delaware County Employees Retirement System, et al. v. AdaptHealth Corp. — covered investors who purchased AHCO securities between November 8, 2019, and July 16, 2021, and that settlement has already been resolved. This current $35,000,000 settlement covers a different class period (August 4, 2020, through November 7, 2023) and is a distinct legal action.

What records do I need to file a claim? 

Class members must provide holdings, purchase, acquisition, and sale information for AdaptHealth common stock across the full class period, along with documentation such as brokerage statements or trade confirmations to support their transactions. Gather all brokerage account statements covering August 2020 through February 2024 before starting your claim.

What did AdaptHealth allegedly do to inflate its stock price? 

The complaint alleges AdaptHealth gutted its compliance systems, never implemented its supposedly advanced technology, and delayed integrating dozens of acquired healthcare businesses for months or years — while making numerous false and misleading statements to investors during the class period. The stock price fell 23% on November 7, 2023, when the company wrote down hundreds of millions of dollars in accounting goodwill tied to those failed acquisitions.

Sources & References

• Bernstein Litowitz Berger & Grossmann LLP — Official Case Page: blbglaw.com/cases-investigations/adapthealth-corp
• Bloomberg Law — Settlement Report (December 22, 2025): news.bloomberglaw.com
• Law360 — AdaptHealth $35M Settlement (December 23, 2025): law360.com
• Official Settlement Website — Kroll Settlement Administration: AdaptHealthSecuritiesSettlement.com

Last Updated: March 10, 2026

Disclaimer: This article is for informational purposes only and does not constitute legal advice. Legal claims and outcomes depend on specific facts and applicable law. For advice regarding a particular situation, consult a qualified attorney.

About the Author

Sarah Klein, JD, is a licensed attorney and legal content strategist with over 12 years of experience across civil, criminal, family, and regulatory law. At All About Lawyer, she covers a wide range of legal topics — from high-profile lawsuits and courtroom stories to state traffic laws and everyday legal questions — all with a focus on accuracy, clarity, and public understanding.
Her writing blends real legal insight with plain-English explanations, helping readers stay informed and legally aware.
Read more about Sarah