Core Viewpoint - A class action lawsuit has been filed against Elevance Health, Inc. for allegedly failing to disclose the impact of Medicaid redetermination on its business prospects, leading to significant financial misrepresentation during the class period from April 18, 2024, to October 16, 2024 [1][2]. Group 1: Allegations and Financial Impact - The complaint alleges that Elevance Health misled investors by claiming they were monitoring cost trends related to Medicaid redetermination and that premium rates were sufficient to manage associated risks, despite rising Medicaid expenses [2]. - The company assured investors that the acuity mix shift in its Medicaid business was within expected bounds, while in reality, the redetermination process resulted in a higher number of sicker patients remaining on Medicaid, leading to increased per-patient costs not reflected in financial guidance [2]. - On July 17, 2024, Elevance disclosed an expectation of increased utilization in Medicaid, which caused its stock price to drop by $32.21 per share, or 5.8%, from $553.14 to $520.93 [3]. Group 2: Class Action Participation - Shareholders interested in serving as lead plaintiffs in the class action must file their papers by July 11, 2025, although participation is not required to be eligible for recovery [4]. - The law firm Robbins LLP operates on a contingency fee basis, meaning shareholders incur no fees or expenses for representation [5].

Core Viewpoint - A securities class action lawsuit has been filed against Elevance Health, Inc. for the period between April 18, 2024, and October 16, 2024, due to financial disclosures that negatively impacted the company's stock price [1][5]. Company Overview - Elevance Health, Inc. is a healthcare company based in Indianapolis, providing health insurance plans and administering Medicaid benefits for eligible beneficiaries [3]. Financial Disclosures - On July 17, 2024, Elevance announced an expected increase in Medicaid utilization, leading to a stock price decline of $32.21 per share, or 5.8%, closing at $520.93 [4]. - On October 17, 2024, Elevance reported Q3 2024 financial results, missing EPS expectations by $1.33, or 13.7%, due to elevated medical costs in its Medicaid business. The company also lowered its EPS guidance for 2024 from $37.20 to $33.00, or 11.3% [5]. - Following the October announcement, Elevance's stock price fell by $52.61 per share, or 10.6%, closing at $444.35 [6].

Core Viewpoint - A securities class action lawsuit has been filed against Elevance Health, Inc. for alleged misrepresentation of financial conditions during the Class Period from April 18, 2024, to October 16, 2024 [1][2]. Company Overview - Elevance Health, Inc. is a healthcare company based in Indianapolis, providing health insurance plans and administering Medicaid benefits for eligible beneficiaries [3]. Allegations and Financial Impact - The lawsuit claims that Elevance misled investors by stating they were monitoring cost trends related to the Medicaid "redetermination" process and that premium rates were sufficient to cover rising costs [4]. - The actual situation revealed that the redetermination process led to a significant increase in Medicaid member utilization, as healthier members were being removed from the program, which was not reflected in Elevance's financial guidance [5]. - On July 17, 2024, Elevance disclosed an expected increase in Medicaid utilization, resulting in a stock price drop of $32.21 per share, or 5.8%, closing at $520.93 [6]. - Following the Q3 2024 financial results announcement on October 17, 2024, where Elevance missed EPS expectations by $1.33 (13.7%) and lowered EPS guidance for 2024 from $37.20 to $33.00 (11.3%), the stock price fell by $52.61 per share, or 10.6%, closing at $444.35 [7][8].

Investors have until July 11, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Elevance common stock. The case is pending in the U.S. District Court for the Southern District of Indiana and is captioned Miller v. Elevance Health, Inc., et al., No. 25-cv-0092. Why was Elevance Sued for Securities Fraud? Elevance provides health insurance plans. This includes contract ...

Core Viewpoint - A securities class action lawsuit has been filed against Elevance Health, Inc. for the period between April 18, 2024, and October 16, 2024, due to financial disclosures that negatively impacted the company's stock price [1][5]. Company Overview - Elevance Health, Inc. is a healthcare company based in Indianapolis, providing health insurance plans and administering Medicaid benefits for eligible beneficiaries [3]. Financial Disclosures - On July 17, 2024, Elevance announced an expected increase in Medicaid utilization, leading to a stock price decline of $32.21 per share, or 5.8%, closing at $520.93 [4]. - On October 17, 2024, Elevance reported Q3 2024 financial results, missing EPS expectations by $1.33, or 13.7%, due to elevated medical costs in its Medicaid business. The EPS guidance for 2024 was lowered from $37.20 to $33.00, or 11.3% [5]. - Following the October announcement, Elevance's stock price fell by $52.61 per share, or 10.6%, closing at $444.35 [6].

LOS ANGELES, May 19, 2025 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Elevance Health, Inc. ("Elevance" or "the Company") (NYSE: ELV) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.Investors who purchased the Company's securities between April 18, 2024 and October 16, 2024, inclusive (the "Class Period"), ...

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Elevance Health, Inc. due to allegations of violations of federal securities laws related to misleading statements about Medicaid cost trends and earnings guidance [3][5]. Group 1: Allegations and Legal Actions - The complaint alleges that Elevance and its executives made false and misleading statements regarding their monitoring of Medicaid cost trends and the adequacy of premium rates negotiated with states [5]. - A federal securities class action has been filed against Elevance, with a deadline of July 11, 2025, for investors to seek the role of lead plaintiff [3][9]. - The firm encourages investors who suffered losses in Elevance to contact them for discussions about their legal rights [1][10]. Group 2: Financial Impact and Stock Performance - On July 17, 2024, Elevance disclosed an expectation of increased Medicaid utilization, leading to a stock price decline of $32.21 per share, or 5.8% [6]. - Following the announcement of third-quarter financial results on October 17, 2024, Elevance missed EPS expectations by $1.33, or 13.7%, due to elevated medical costs in its Medicaid business [7]. - The company subsequently lowered its EPS guidance for 2024 from $37.20 to $33.00, or 11.3%, resulting in a further stock price decline of $52.61 per share, or 10.6% [8].

Core Viewpoint - A lawsuit has been filed against Elevance Health, Inc. and certain senior executives for potential violations of federal securities laws, specifically related to the management of Medicaid benefits and financial disclosures [1][2]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Southern District of Indiana, captioned Miller v. Elevance Health, Inc., et al., No. 25-cv-0092 [2]. - Investors have until July 11, 2025, to request to be appointed to lead the case [2]. Group 2: Background on Medicaid Management - Elevance provides health insurance plans, including contracts with states to administer Medicaid benefits [3]. - The federal government paused Medicaid eligibility reviews during COVID, which resumed in 2023 [3]. Group 3: Allegations of Misrepresentation - Elevance claimed to be closely monitoring cost trends related to the Medicaid redetermination process and asserted that negotiated rates were adequate for the risk profiles of Medicaid patients [4]. - Contrary to these claims, the redetermination process led to a significant increase in the acuity and utilization of Elevance's Medicaid members, which was not reflected in the company's financial guidance for 2024 [5]. Group 4: Stock Price Impact - Following Elevance's announcement on July 17, 2024, regarding increased Medicaid utilization, the stock price fell by $32.21, or nearly 6%, from $553.14 to $520.93 per share [6]. - On October 17, 2024, Elevance reported Q3 2024 results, missing consensus EPS expectations by $1.33, or 13.7%, due to elevated medical costs in its Medicaid business, resulting in a stock price decline of $52.61, or nearly 11%, from $496.96 to $444.35 per share [7].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Elevance Health, Inc. due to allegations of misleading statements regarding Medicaid cost trends and financial guidance, which led to significant stock price declines [2][4][5][6]. Group 1: Legal Investigation - The law firm is encouraging investors who suffered losses exceeding $100,000 in Elevance between April 18, 2024, and October 16, 2024, to discuss their legal options [1]. - A federal securities class action has been filed against Elevance, with a deadline of July 11, 2025, for investors to seek the role of lead plaintiff [2]. Group 2: Allegations Against Elevance - The complaint alleges that Elevance and its executives violated federal securities laws by making false or misleading statements about their monitoring of Medicaid cost trends and the adequacy of premium rates [4]. - On July 17, 2024, Elevance disclosed an expectation of increased Medicaid utilization, resulting in a stock price decline of $32.21 per share, or 5.8% [5]. - Further revelations on October 17, 2024, indicated that Elevance missed EPS expectations by $1.33, or 13.7%, due to elevated medical costs in its Medicaid business, leading to a stock price drop of $52.61 per share, or 10.6% [6]. Group 3: Class Action Details - The lead plaintiff in the class action will be the investor with the largest financial interest who is typical of class members and oversees the litigation [7]. - Any member of the putative class can move the court to serve as lead plaintiff or remain an absent class member without affecting their ability to share in any recovery [7]. Group 4: Call for Information - Faruqi & Faruqi encourages anyone with information regarding Elevance's conduct, including whistleblowers and former employees, to contact the firm [8].

Core Viewpoint - A class action lawsuit has been filed against Elevance Health, Inc. for allegedly making false or misleading statements regarding the Medicaid redetermination process and its impact on the company's financial guidance [1][3]. Summary by Relevant Sections Lawsuit Details - The lawsuit was filed in the United States District Court for the Southern District of Indiana on behalf of individuals and entities that purchased Elevance securities between April 18, 2024, and October 16, 2024 [1]. - Investors have until July 11, 2025, to apply to be appointed as lead plaintiff in the lawsuit [1]. Allegations Against Elevance - Defendants allegedly misrepresented their monitoring of cost trends related to the Medicaid redetermination process and assured investors that premium rates were sufficient to manage risks associated with Medicaid patients [3]. - The lawsuit claims that while Medicaid expenses were acknowledged to be rising, the true impact of the redetermination process was not adequately reflected in Elevance's financial guidance for 2024 [3]. - It is asserted that the acuity and utilization of Medicaid members increased significantly, as those removed from Medicaid were generally healthier than those who remained eligible [3]. Impact on Investors - The lawsuit contends that when the true details regarding the Medicaid redetermination process became public, investors suffered damages due to the misleading statements made by Elevance [3].