Centene(US:CNC) Prnewswireยท2025-07-24 12:45Core Viewpoint - Centene Corporation is facing a class action lawsuit due to allegations of providing misleading statements regarding its enrollment and morbidity rates, leading to a significant drop in stock price after the company withdrew its 2025 guidance [1][2]. Group 1: Allegations and Impact - The lawsuit claims that Centene's management made overly positive statements while concealing adverse facts about the company's performance [1]. - Following the withdrawal of the 2025 guidance, Centene's stock price plummeted by 40.4%, from $56.65 on July 1, 2025, to $33.78 on July 2, 2025 [1]. - The company's revised guidance indicated a reduction to approximately $1.8 billion in revenue and an adjusted diluted EPS of $2.75, which was lower than market expectations [1]. Group 2: Class Action Details - Shareholders who purchased shares during the class period from December 12, 2024, to June 30, 2025, are encouraged to register for the class action, with a deadline set for September 8, 2025 [2]. - Participants will be enrolled in a portfolio monitoring system to receive updates on the case's progress [2]. - There is no cost or obligation for shareholders to participate in the class action [2]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements [3].