NYSE: ELV DEADLINE REMINDER: Berger Montague Reminds Elevance Health (NYSE: ELV) Investors of Important Class Action Lawsuit Deadline

Core Viewpoint - A securities class action lawsuit has been filed against Elevance Health, Inc. for alleged misrepresentation of financial guidance and Medicaid cost trends during the Class Period from April 18, 2024, to October 16, 2024 [1][4]. Company Overview - Elevance Health, Inc. is a healthcare company based in Indianapolis, providing health insurance plans and administering Medicaid benefits for eligible beneficiaries [3]. Allegations and Financial Impact - The lawsuit claims that Elevance misled investors by stating they were monitoring cost trends related to the Medicaid "redetermination" process and that premium rates were sufficient to cover rising costs [4]. - It was revealed that the redetermination process led to a significant increase in the utilization of Medicaid members, as healthier members were being removed from the program, which was not reflected in Elevance's financial guidance [5]. - On July 17, 2024, Elevance disclosed an expectation of increased Medicaid utilization, resulting in a stock price drop of $32.21 per share, or 5.8$520.93 [6]. - On October 17, 2024, Elevance reported Q3 2024 earnings, missing EPS expectations by $1.33, or 13.7$37.20 to $33.00, or 11.3$52.61 per share, or 10.6%, closing at $444.35 [7][8].