ELEVANCE ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Elevance Health, Inc. and Encourages Investors to Contact the Firm

Core Viewpoint - A class action lawsuit has been filed against Elevance Health, Inc. for allegedly making false or misleading statements regarding the Medicaid redetermination process and its impact on the company's financial guidance [1][3]. Summary by Relevant Sections Lawsuit Details - The lawsuit was filed in the United States District Court for the Southern District of Indiana on behalf of individuals and entities that purchased Elevance securities between April 18, 2024, and October 16, 2024 [1]. - Investors have until July 11, 2025, to apply to be appointed as lead plaintiff in the lawsuit [1]. Allegations Against Elevance - Defendants allegedly misrepresented their monitoring of cost trends related to the Medicaid redetermination process and assured investors that premium rates were sufficient to manage risks associated with Medicaid patients [3]. - The lawsuit claims that while Medicaid expenses were acknowledged to be rising, the true impact of the redetermination process was not adequately reflected in Elevance's financial guidance for 2024 [3]. - It is asserted that the acuity and utilization of Medicaid members increased significantly, as those removed from Medicaid were generally healthier than those who remained eligible [3]. Impact on Investors - The lawsuit contends that when the true details regarding the Medicaid redetermination process became public, investors suffered damages due to the misleading statements made by Elevance [3].