ELV Lead Plaintiff Deadline Approaching - Robbins LLP Reminds Investors to Get Information About Leading the Class Action Against Elevance Health, Inc.

Core Viewpoint - A class action lawsuit has been filed against Elevance Health, Inc. for allegedly failing to disclose the impact of Medicaid redetermination on its business prospects, leading to significant financial misrepresentation [1][2]. Group 1: Allegations and Impact - The lawsuit claims that Elevance Health misled investors by stating they were monitoring Medicaid cost trends and that their premium negotiations were sufficient, despite rising Medicaid expenses [2]. - The company acknowledged rising Medicaid expenses but assured investors that these were adequately reflected in their financial guidance, which was later proven inaccurate as the acuity and utilization of Medicaid members increased significantly [2]. - Following the company's admission of increased Medicaid utilization on July 17, 2024, Elevance's stock price dropped by $32.21 per share, or 5.8%, indicating a negative market reaction to the news [3]. Group 2: Class Action Participation - Shareholders interested in participating in the class action must file their papers by July 11, 2025, to serve as lead plaintiff, representing the interests of other class members [4]. - Shareholders are not required to participate in the case to be eligible for recovery, allowing them to remain absent class members if they choose [4]. Group 3: Legal Representation - Robbins LLP operates on a contingency fee basis, meaning shareholders incur no fees or expenses for representation in the lawsuit [5].