Elevance Health(US:ELV) Prnewswire·2025-06-15 14:18Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Elevance Health, Inc. due to allegations of false and misleading statements regarding the company's financial health and Medicaid cost management [2][4]. Group 1: Legal Investigation - The law firm is encouraging investors who suffered losses exceeding $100,000 in Elevance between April 18, 2024, and October 16, 2024, to discuss their legal rights [1]. - A federal securities class action has been filed against Elevance, with a deadline of July 11, 2025, for investors to seek the role of lead plaintiff [2]. Group 2: Allegations Against Elevance - The complaint alleges that Elevance and its executives violated federal securities laws by making false statements and failing to disclose the true nature of rising Medicaid costs [4]. - On July 17, 2024, Elevance disclosed an expectation of increased second-half utilization in Medicaid, leading to a stock price decline of $32.21 per share, or 5.8% [5]. - Further revelations on October 17, 2024, indicated that Elevance missed consensus EPS expectations by $1.33, or 13.7%, due to elevated medical costs in its Medicaid business, resulting in a stock price drop of $52.61 per share, or 10.6% [6]. Group 3: Class Action Details - The lead plaintiff in a class action is the investor with the largest financial interest who directs the litigation on behalf of the class [7]. - Any member of the class can move to serve as lead plaintiff or remain an absent class member without affecting their ability to share in any recovery [7]. Group 4: Whistleblower Encouragement - Faruqi & Faruqi encourages individuals with information regarding Elevance's conduct, including whistleblowers and former employees, to come forward [8].