Centene(US:CNC) Businesswireยท2025-09-05 16:56Core Viewpoint - Centene Corporation is facing a securities fraud class action lawsuit due to significant revenue declines and misleading statements made by the company during the class period from December 12, 2024, to June 30, 2025 [1][3]. Group 1: Lawsuit Details - The lawsuit is based on allegations that Centene made materially false and misleading statements and failed to disclose adverse facts about its business and operations [3]. - Centene's stock price dropped by $22.87, or 40.4%, closing at $33.78 per share on July 2, 2025, following the announcement of the withdrawal of its 2025 financial guidance [2]. - The class period for the lawsuit is defined as December 12, 2024, to June 30, 2025, with a deadline of September 8, 2025, for investors to seek lead plaintiff status [4]. Group 2: Financial Impact - The revenue decline was attributed to a risk-sharing mechanism related to the Affordable Care Act marketplace, which showed lower-than-expected enrollment and increased market morbidity [2][3]. - The preliminary analysis indicated that over two-thirds of Centene's marketplace share was affected, leading to the misleading nature of the company's previous positive statements [3].