Centene(US:CNC) GlobeNewswire News Room·2025-08-21 19:45Core 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 company withdrew its 2025 guidance [3][4]. Summary by Sections Class Action Details - The class period for the lawsuit is from December 12, 2024, to June 30, 2025 [3]. - Shareholders who purchased shares during this period are encouraged to contact the Gross Law Firm for potential lead plaintiff appointment [1][4]. Allegations and Impact - The complaint alleges that Centene's management made overwhelmingly positive statements while concealing material adverse facts about the company's performance [3]. - 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 [3]. - 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]. Next Steps for Shareholders - The deadline for shareholders to register for the class action is September 8, 2025 [4]. - Registered shareholders will receive updates through a portfolio monitoring software regarding the case's progress [4]. Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [5].