INVESTOR REMINDER: Berger Montague Notifies Elevance Health (NYSE: ELV) Investors of a Class Action Lawsuit and Deadline

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$520.93 [6]. - Following the Q3 2024 financial results announcement on October 17, 2024, where Elevance missed EPS expectations by $1.33 (13.7$37.20 to $33.00 (11.3$52.61 per share, or 10.6%, closing at $444.35 [7][8].