ELV SHAREHOLDERS: Elevance Health, Inc. Investors are Reminded of the Pending Securities Fraud Class Action – Contact BFA Law by July 11 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 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: Background on Elevance Health - Elevance Health 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 [3]. Group 3: Allegations of Misrepresentation - Elevance allegedly misrepresented its monitoring of cost trends related to the Medicaid redetermination process and the adequacy of negotiated rates [4]. - The redetermination process reportedly 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]. Group 4: 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 [6]. - On October 17, 2024, Elevance announced Q3 2024 results, missing EPS expectations by $1.33 (13.7%) due to elevated medical costs in its Medicaid business, leading to a further stock decline of $52.61, nearly 11%, from $496.96 to $444.35 [7].