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SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Centene
CenteneCentene(US:CNC) Prnewswireยท2025-08-08 14:15

Core Viewpoint - Centene Corporation is facing a class action lawsuit due to allegations of providing misleading statements regarding its enrollment and morbidity rates, which led to a significant decline in its stock price after the withdrawal of its 2025 guidance [2][3]. Group 1: Allegations and Impact - Defendants allegedly made overwhelmingly positive statements while concealing adverse facts about Centene's true enrollment and morbidity rates [2] - On July 1, 2025, Centene withdrew its 2025 guidance, revealing that its market growth across 22 states was lower than expected, leading to a revised guidance of approximately $1.8 billion and an adjusted diluted EPS of $2.75 [2] - Following this announcement, Centene's stock price plummeted from $56.65 per share to $33.78 per share, marking a decline of 40.4% [3] Group 2: Legal Proceedings - The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought, who will oversee the litigation on behalf of the class [4] - Any member of the putative class can move to serve as lead plaintiff or choose to remain an absent class member without affecting their ability to share in any recovery [4] Group 3: Call for Information - Faruqi & Faruqi, LLP is encouraging individuals with information regarding Centene's conduct, including whistleblowers and former employees, to come forward [5]