ELV SECURITIES NOTICE: Did Elevance Health, Inc. Commit Securities Fraud? Contact BFA Law about the Class Action Lawsuit by July 11
NEW YORK, May 27, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Elevance Health, Inc. (NYSE: ELV) and certain of the Company's senior executives for potential violations of the federal securities laws.
If you invested in Elevance you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/elevance-health-inc.
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 contracting with states to administer Medicaid benefits. States routinely review Medicaid eligibility, but during COVID, the federal government paused this process. The pause ended in 2023, and states resumed redetermining Medicaid eligibility.
During the relevant period, Elevance represented that it was closely monitoring the cost trends associated with the redetermination process and that the rates Elevance was negotiating were sufficient to address the risk profiles of those patients staying on Medicaid.
As alleged, in truth, the redeterminations caused a significant increase in the acuity and utilization of Elevance's Medicaid members. What's more, the shift occurred to a degree that was not reflected in Elevance's rate negotiations or in its financial guidance for 2024.
The Stock Declines as the Truth is Revealed
On July 17, 2024, Elevance stated that it was now 'expecting second-half utilization to increase in Medicaid' and that it was 'seeing signs of increased utilization across the broader Medicaid population.' On this news, the price of Elevance stock declined $32.21 per share, or nearly 6%, from $553.14 per share on July 16, 2024, to $520.93 per share on July 17, 2024.
Then, on October 17, 2024, Elevance announced its Q3 2024 financial results, revealing that its missed consensus earnings per share ('EPS') expectations by $1.33, or 13.7%, 'due to elevated medical costs in [its] Medicaid business.' On this news, the price of Elevance stock declined $52.61 per share, or nearly 11%, from $496.96 per share on October 16, 2024, to $444.35 per share on October 17, 2024.
Click here if you suffered losses: https://www.bfalaw.com/cases-investigations/elevance-health-inc.
What Can You Do?
If you invested in Elevance you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
https://www.bfalaw.com/cases-investigations/elevance-health-inc
Or contact:
Ross Shikowitz
[email protected]
212-789-3619
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
https://www.bfalaw.com/cases-investigations/elevance-health-inc
Attorney advertising. Past results do not guarantee future outcomes.
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According to NPR, 'If approved, starting in fiscal year 2028, states would be required to pay between 5% and 25% of food benefit costs for the first time. … In addition, states would receive less federal support to administer SNAP. The proposed changes would decrease the federal reimbursement rate for administrative costs to run SNAP from 50% to 25%.' An analysis of the Medicaid and SNAP cuts by The Commonwealth Fund found that these changes create ripple effects that affect the economies of entire communities, not just low-income households. 'For example, some of the food purchased in Georgia may have been grown in Kansas or processed in Tennessee, so lower grocery purchases in one state may cause losses in other states,' the Commonwealth report stated. 'A nurse who loses her job at a Louisiana clinic might reside in Texas; thus, a job lost in one state could create economic losses in another.' While the 'One Big Beautiful Bill Act' proposes extending tax cuts from the 2017 Tax Cuts and Jobs Act, it does not include provisions to eliminate taxes on Social Security benefits, contrary to some expectations. The bill does introduce a new $4,000 standard deduction for seniors aged 65 and older, providing tax relief for individuals with adjusted gross incomes of $75,000 and couples with incomes of $150,000 annually. However, the substantial tax cuts and increased spending outlined in the proposal are projected to add approximately $3.8 trillion to the national debt over the next decade. This significant increase in the deficit raises concerns among financial experts about potential future tax hikes to address the fiscal imbalance. 'If the proposal is passed, it could increase taxes on retirement income, making Roth conversions and smart withdrawal strategies more important than ever,' Cirksena said. 'The best move right now is do not wait. Review incomes, run scenarios and add some flexibility into your plan. Better to adjust early than react late.' Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 4 Housing Markets That Have Plummeted in Value Over the Past 5 Years 10 Genius Things Warren Buffett Says To Do With Your Money This article originally appeared on Trump's 2026 Budget Proposal: 4 Things Retirees Need To Know Sign in to access your portfolio
