ELV REMINDER: BFA Law Reminds Elevance Health, Inc. Investors of the Imminent July 11 Deadline in Securities Fraud Class Action (NYSE:ELV)

Core Viewpoint - A lawsuit has been filed against Elevance Health, Inc. and certain senior executives for potential violations of federal securities laws, specifically related to the management of Medicaid benefits and financial disclosures [1][2]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Southern District of Indiana, captioned Miller v. Elevance Health, Inc., et al., No. 25-cv-0092 [2]. - Investors have until July 11, 2025, to request to be appointed to lead the case [2]. Group 2: Company Operations and Allegations - Elevance provides health insurance plans, including contracts with states to administer Medicaid benefits [3]. - The federal government paused Medicaid eligibility reviews during COVID, which resumed in 2023, leading to increased acuity and utilization among Elevance's Medicaid members [3][5]. - Elevance had previously claimed to be monitoring cost trends and negotiating sufficient rates for Medicaid patients, which was later alleged to be misleading [4]. Group 3: Stock Performance and Financial Impact - Following a statement on July 17, 2024, regarding increased Medicaid utilization, Elevance's stock price fell by $32.21, nearly 6%, from $553.14 to $520.93 per share [6]. - On October 17, 2024, Elevance reported Q3 2024 results, missing consensus EPS expectations by $1.33 (13.7%) due to elevated medical costs in its Medicaid business, resulting in a stock decline of $52.61, nearly 11%, from $496.96 to $444.35 per share [7].