ELV CLASS NOTICE: Elevance Health, Inc. Investors may have been Affected by Fraud – Contact BFA Law before July 11 Court Deadline (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 during the COVID-19 pandemic [1][2]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Southern District of Indiana, titled Miller v. Elevance Health, Inc., et al., No. 25-cv-0092, and investors have until July 11, 2025, to seek lead plaintiff status [2]. - The complaint alleges violations under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Elevance common stock [2]. Group 2: Medicaid Management Issues - Elevance provides health insurance plans, including Medicaid benefits, and the federal government paused Medicaid eligibility reviews during COVID-19, which resumed in 2023 [3]. - During this period, Elevance claimed to be monitoring cost trends related to the redetermination process and believed its negotiated rates were adequate for the risk profiles of Medicaid patients [4]. Group 3: Financial Impact and Stock Performance - The redetermination process led to a significant increase in the acuity and utilization of Elevance's Medicaid members, which was not reflected in the company's financial guidance for 2024 [5]. - Following a July 17, 2024 announcement regarding increased Medicaid utilization, Elevance's stock price fell by $32.21, or 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, or 13.7%, due to elevated medical costs in its Medicaid business, resulting in a stock price decline of $52.61, or nearly 11%, from $496.96 to $444.35 per share [7].