NEW YORK, May 23, 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 ...

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%, from $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].

Core Insights - The article highlights the 28th annual list of the world's most influential businesswomen, emphasizing the increasing competition as more women lead significant companies. The ranking is data-driven, utilizing a complex scoring system that considers various dimensions beyond just company size and performance [1][2]. Group 1: Rankings and Notable Leaders - The top three positions are held by Mary Barra (CEO of General Motors), Julie Sweet (CEO of Accenture), and Jane Fraser (CEO of Citigroup) [1][2]. - The list includes leaders from various global companies, with notable mentions from Walmart and Netflix [1]. Group 2: Geographic Representation - Over half of the women on the list work in the United States, with significant representation from China (10), France (7), the UK (7), and Brazil (3) [2]. - The Chinese representatives include notable figures such as Meng Wanzhou (Huawei), Joey Wat (Yum China), and others from leading companies [2]. Group 3: Emerging Leaders - Among the 16 new entrants, several have returned to the list after years, including Michelle Gass (CEO of Levi's) and Claudine Adamo (Chief Procurement Officer at Costco) [2]. - The list reflects a mix of seasoned executives and rising stars, indicating a dynamic shift in leadership [2]. Group 4: Business Performance and Challenges - General Motors, under Mary Barra, achieved record revenue in 2024, with a 9% year-over-year increase, and doubled its market share in electric vehicles [6]. - Citigroup, led by Jane Fraser, reported a net profit increase from $9.2 billion in 2023 to $12.7 billion in 2024, prompting a $20 billion stock buyback plan [10]. - Accenture, under Julie Sweet, demonstrated agility by hosting webinars for 900 clients in response to new tariffs, showcasing the ability to adapt quickly to market changes [7]. Group 5: Industry Trends and Innovations - The article notes a shift in evaluating business influence, with a diminishing absolute reliance on company size, as seen with Mira Murati of Thinking Machines Lab, who leads a seed-stage company [3]. - The focus on technology and innovation is evident, with leaders like Safra Catz of Oracle and Lisa Su of AMD navigating challenges in the tech sector while pushing for advancements in AI [11][42].

Core Viewpoint - A securities class action lawsuit has been filed against Elevance Health, Inc. for the period between April 18, 2024, and October 16, 2024, due to financial disclosures that negatively impacted the company's stock price [1][5]. Company Overview - Elevance Health, Inc. is a healthcare company based in Indianapolis, providing health insurance plans and administering Medicaid benefits for eligible beneficiaries [3]. Financial Disclosures - On July 17, 2024, Elevance announced an expected increase in Medicaid utilization, leading to a stock price decline of $32.21 per share, or 5.8%, closing at $520.93 [4]. - On October 17, 2024, Elevance reported Q3 2024 financial results, missing EPS expectations by $1.33, or 13.7%, due to elevated medical costs in its Medicaid business. The company also lowered its EPS guidance for 2024 from $37.20 to $33.00, or 11.3% [5]. - Following the October announcement, Elevance's stock price fell by $52.61 per share, or 10.6%, closing at $444.35 [6].

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

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 contract ...

Core Viewpoint - Rosen Law Firm has announced a class action lawsuit on behalf of purchasers of Elevance Health, Inc. common stock during the specified Class Period, indicating potential legal issues related to misleading statements made by the company regarding Medicaid costs and premium rates [1][5]. Group 1: Class Action Details - The class action is for investors who purchased Elevance common stock between April 18, 2024, and October 16, 2024, and they may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2][3]. - Investors wishing to serve as lead plaintiff must file a motion with the Court by July 11, 2025 [1][3]. Group 2: Allegations Against Elevance Health - The lawsuit claims that Elevance Health made false or misleading statements about their monitoring of cost trends related to the Medicaid redetermination process, which was not accurately reflected in their financial guidance for 2024 [5]. - It is alleged that the company assured investors that rising Medicaid expenses were adequately accounted for, while in reality, the acuity and utilization of Medicaid members were increasing significantly due to the redetermination process [5]. Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time [4]. - The firm has been consistently ranked among the top firms for securities class action settlements and has recovered hundreds of millions of dollars for investors [4].

Core Viewpoint - A securities class action lawsuit has been filed against Elevance Health, Inc. for the period between April 18, 2024, and October 16, 2024, due to financial disclosures that negatively impacted the company's stock price [1][5]. Company Overview - Elevance Health, Inc. is a healthcare company based in Indianapolis, providing health insurance plans and administering Medicaid benefits for eligible beneficiaries [3]. Financial Disclosures - On July 17, 2024, Elevance announced an expected increase in Medicaid utilization, leading to a stock price decline of $32.21 per share, or 5.8%, closing at $520.93 [4]. - On October 17, 2024, Elevance reported Q3 2024 financial results, missing EPS expectations by $1.33, or 13.7%, due to elevated medical costs in its Medicaid business. The EPS guidance for 2024 was lowered from $37.20 to $33.00, or 11.3% [5]. - Following the October announcement, Elevance's stock price fell by $52.61 per share, or 10.6%, closing at $444.35 [6].

Core Viewpoint - A class action lawsuit has been filed against Elevance Health, Inc. for alleged violations of securities laws, specifically related to misleading statements made by the company regarding its Medicaid member utilization and financial guidance [1][4]. Group 1: Lawsuit Details - The lawsuit is based on allegations that Elevance made false and misleading statements to the market during the class period from April 18, 2024, to October 16, 2024 [2][4]. - Investors who suffered losses during this period are encouraged to participate in the class action before the deadline of July 11, 2025 [2][3]. Group 2: Company Performance Issues - Elevance experienced a significant rise in the acuity and utilization of its Medicaid members due to program redeterminations, which was not accurately reflected in its financial guidance or rate negotiations with states [4]. - The misleading public statements made by Elevance resulted in investor damages once the true situation was revealed [4].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Elevance Health, Inc. due to allegations of violations of federal securities laws related to misleading statements about Medicaid cost trends and earnings guidance [3][5]. Group 1: Allegations and Legal Actions - The complaint alleges that Elevance and its executives made false and misleading statements regarding their monitoring of Medicaid cost trends and the adequacy of premium rates negotiated with states [5]. - A federal securities class action has been filed against Elevance, with a deadline of July 11, 2025, for investors to seek the role of lead plaintiff [3][9]. - The firm encourages investors who suffered losses in Elevance to contact them for discussions about their legal rights [1][10]. Group 2: Financial Impact and Stock Performance - On July 17, 2024, Elevance disclosed an expectation of increased Medicaid utilization, leading to a stock price decline of $32.21 per share, or 5.8% [6]. - Following the announcement of third-quarter financial results on October 17, 2024, Elevance missed EPS expectations by $1.33, or 13.7%, due to elevated medical costs in its Medicaid business [7]. - The company subsequently lowered its EPS guidance for 2024 from $37.20 to $33.00, or 11.3%, resulting in a further stock price decline of $52.61 per share, or 10.6% [8].