ELV SHAREHOLDER NEWS: Investors of Elevance Health, Inc. Securities are Reminded of the July 11 Class Action Deadline -- Contact BFA Law (NYSE:ELV)

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$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$496.96 to $444.35 per share [7].