Elevance Health(US:ELV) Prnewswire·2025-07-03 12:15Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Elevance Health, Inc. due to allegations of misleading statements regarding Medicaid cost trends and their impact on the company's financial performance [2][4]. Group 1: Legal Investigation - The law firm is encouraging investors who suffered losses in Elevance between April 18, 2024, and October 16, 2024, to discuss their legal options [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 and misleading statements about their monitoring of Medicaid cost trends and the adequacy of premium rates [4]. - On July 17, 2024, Elevance disclosed an expectation of increased Medicaid utilization, 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 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].