ELV Investors Have the Opportunity to Lead the Elevance Securities Fraud Lawsuit with Faruqi & Faruqi, LLP

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Elevance Health, Inc. due to allegations of false and misleading statements regarding Medicaid cost trends and earnings guidance, which led to significant stock price declines [3][5][6]. Group 1: Allegations and Financial Impact - The complaint alleges that Elevance and its executives violated federal securities laws by making false statements about monitoring cost trends and the adequacy of premium rates for Medicaid patients [5]. - On July 17, 2024, Elevance disclosed an expected increase in Medicaid utilization, resulting in a stock price decline of $32.21 per share, or 5.8% [6]. - On October 17, 2024, Elevance reported third-quarter earnings that missed consensus EPS expectations by $1.33, or 13.7%, due to elevated medical costs in its Medicaid business, leading to a further stock price decline of $52.61 per share, or 10.6% [7][8]. Group 2: Legal Proceedings and Investor Actions - Investors who suffered losses in Elevance between April 18, 2024, and October 16, 2024, are encouraged to discuss their legal rights and options with Faruqi & Faruqi [1][3]. - There is a deadline of July 11, 2025, for investors to seek the role of lead plaintiff in the federal securities class action against Elevance [3]. - Any member of the putative class can move the court to serve as lead plaintiff or remain an absent class member without affecting their ability to share in any recovery [9].