Centene(US:CNC) Prnewswireยท2025-07-28 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 withdrawal of 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]. - On July 1, 2025, Centene withdrew its 2025 guidance, revealing that its market growth across 22 states was lower than expected, resulting in a revised guidance of approximately $1.8 billion and an adjusted diluted EPS of $2.75 [1]. - Following this announcement, Centene's stock price plummeted from $56.65 per share to $33.78 per share, marking a decline of 40.4% [1]. Group 2: Class Action Details - The class period for the lawsuit is defined as December 12, 2024, to June 30, 2025, and shareholders are encouraged to register for participation [2]. - The deadline for shareholders to seek lead plaintiff status is September 8, 2025, and there is no cost or obligation to participate in the case [2]. Group 3: Law Firm's Commitment - The Gross Law Firm is dedicated to protecting investors' rights and ensuring companies adhere to responsible business practices [3]. - The firm aims to recover losses for investors who were affected by false or misleading statements that artificially inflated stock prices [3].