Robbins LLP Reminds Elevance Health, Inc. Stockholders of the Class Action Against ELV – Contact Us for Information

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$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].