ELV LAWSUIT NOTICE: Lose Money on Elevance Health, Inc.? BFA Law Alerts Investors that the Class Action Could Allow Investors to Recover Losses (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, captioned Miller v. Elevance Health, Inc., et al., No. 25-cv-0092 [2]. - Investors who purchased Elevance common stock are encouraged to seek additional information and may request to be appointed to lead the case by July 11, 2025 [2]. Group 2: Background on Medicaid Management - Elevance provides health insurance plans, including contracts with states to administer Medicaid benefits [3]. - The federal government paused the review of Medicaid eligibility during COVID-19, which resumed in 2023, leading to increased scrutiny of Medicaid members [3]. Group 3: Allegations of Misrepresentation - Elevance allegedly misrepresented its monitoring of cost trends associated with the Medicaid redetermination process and the sufficiency of negotiated rates to address patient risk profiles [4]. - The redetermination process reportedly caused 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]. Group 4: Stock Price Impact - Following Elevance's announcement on July 17, 2024, regarding increased Medicaid utilization, the stock price fell by $32.21 per share, nearly 6%, from $553.14 to $520.93 [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, leading to a further decline of $52.61 per share, nearly 11%, from $496.96 to $444.35 [7].