ELV COURT REMINDER: Elevance Health, Inc. Investors that Lost Money may have been Affected by Fraud -- Contact BFA Law by July 11 Court 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 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, titled Miller v. Elevance Health, Inc., et al., No. 25-cv-0092, with claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [2]. - Investors have until July 11, 2025, to request to be appointed to lead the case [2]. Group 2: Company Operations and Allegations - Elevance Health provides health insurance plans, including contracts with states to administer Medicaid benefits, which were paused during COVID-19 and resumed in 2023 [3]. - The company claimed to be monitoring cost trends related to Medicaid redetermination and believed its negotiated rates were adequate for the risk profiles of Medicaid patients [4]. - However, the redetermination process led to a significant increase in the acuity and utilization of Medicaid members, which was not reflected in Elevance's financial guidance for 2024 [5]. Group 3: Stock Performance and Financial Impact - Following the announcement on July 17, 2024, regarding increased Medicaid utilization, Elevance's stock price fell by $32.21, or nearly 6%, from $553.14 to $520.93 per share [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, resulting in a stock price decline of $52.61, or nearly 11%, from $496.96 to $444.35 per share [7].