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Associated Press
18 hours ago
- Business
- Associated Press
ELV Deadline: Rosen Law Firm Urges Elevance Health, Inc. (NYSE: ELV) Stockholders with Losses in Excess of $100K to Contact the Firm for Information About Their Rights
NEW YORK--(BUSINESS WIRE)--Jun 28, 2025-- Rosen Law Firm, a global investor rights law firm, reminds investors that a shareholder filed a class action on behalf of purchasers of common stock of Elevance Health, Inc. (NYSE: ELV) between April 18, 2024, and October 16, 2024. Elevance describes itself as a 'healthcare company that provides health insurance plans to a variety of markets.' For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653. The Allegations: Rosen Law Firm is Investigating the Allegations that Elevance Health, Inc. (NYSE: ELV) Misled Investors Regarding its Business Operations. According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that, with the Medicaid redetermination process nearly complete, defendants represented to investors that they were closely monitoring cost trends associated with the redetermination process and that the premium rates Elevance was negotiating with states were sufficient to address the risk and cost profiles of those patients staying on Medicaid programs. While defendants acknowledged that Medicaid expenses were rising, they repeatedly assured investors that this was adequately reflected in Elevance's guidance for the year. These representations were materially false or misleading. In truth, the redeterminations were causing the acuity and utilization of Elevance's Medicaid members to rise significantly, as the members being removed from Medicaid programs were, on average, healthier than those who remained eligible for the programs. This shift was occurring to a degree that was not reflected in Elevance's rate negotiations with the states or in its financial guidance for 2024. When the true details entered the market, the lawsuit claims that investors suffered damages. What Now: You may be eligible to participate in the class action against Elevance Health, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by July 11, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. View source version on CONTACT: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL SOURCE: The Rosen Law Firm, P.A. Copyright Business Wire 2025. PUB: 06/28/2025 04:06 PM/DISC: 06/28/2025 04:06 PM
Associated Press
5 days ago
- Business
- Associated Press
Deadline Alert: Elevance Health, Inc. (ELV) Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit
LOS ANGELES, June 24, 2025 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP reminds investors of the upcoming July 11, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Elevance Health, Inc. ('Elevance' or the 'Company') (NYSE: ELV ) common stock between April 18, 2024, and October 16, 2024, inclusive (the 'Class Period'). IF YOU SUFFERED A LOSS ON YOUR ELEVANCE INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS. What Happened? On July 17, 2024, Elevance disclosed that it was 'expecting second-half utilization to increase in Medicaid' and that it was 'seeing signs of increased utilization across the broader Medicaid population, including in outpatient home health, radiology, durable medical equipment, as well as some elective procedures.' On this news, Elevance's stock price fell $32.21, or 5.8%, to close at $520.93 per share on July 17, 2024, thereby injuring investors. Then, on October 17, 2024, Elevance released its third quarter 2024 financial results, missing EPS consensus estimates by 13.7% 'due to elevated medical costs in [its] Medicaid business.' Additionally, the Company lowered its EPS guidance for 2024 by 11.3%. On this news, Elevance's stock price fell $52.61, or 10.6%, to close at $444.35 per share on October 17, 2024, thereby injuring investors further. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) sicker patients with higher acuity tended to remain on Medicaid after redetermination, leading to higher per-patient costs; (2) this increase in cost was occurring at a rate that was not adequately reflected in Elevance's rate negotiations with the states or in its financial guidance for 2024; and (3) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. If you purchased or otherwise acquired Elevance common stock during the Class Period, you may move the Court no later than July 11, 2025 to request appointment as lead plaintiff in this putative class action lawsuit. Contact Us To Participate or Learn More: If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Charles Linehan, Esq., Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles California 90067 Email: [email protected] Telephone: 310-201-9150, Toll-Free: 888-773-9224 Visit our website at Follow us for updates on LinkedIn, Twitter, or Facebook. If you inquire by email, please include your mailing address, telephone number and number of shares purchased. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Contact Us: Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100 Los Angeles, CA 90067 Charles Linehan Email: [email protected] Telephone: 310-201-9150 Toll-Free: 888-773-9224 Visit our website at:
Associated Press
17-05-2025
- Business
- Associated Press
ELV SHAREHOLDER NEWS: Investors of Elevance Health, Inc. Securities are Reminded of the July 11 Class Action Deadline -- Contact BFA Law (NYSE:ELV)
NEW YORK, May 17, 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 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: 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: 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 Attorney advertising. Past results do not guarantee future outcomes.
