Core Viewpoint - A class action lawsuit has been filed against Elevance Health, Inc. for allegedly making false or misleading statements regarding the impact of Medicaid redetermination on the company's financial guidance and cost trends [1][3]. Summary by Relevant Sections Lawsuit Details - The lawsuit is on behalf of all individuals and entities who purchased Elevance securities between April 18, 2024, and October 16, 2024, with a deadline for lead plaintiff applications set for July 11, 2025 [1]. - The defendants are accused of failing to disclose that the Medicaid redetermination process was leading to a significant rise in acuity and utilization of Medicaid members, contrary to their assurances to investors [3]. Financial Implications - Elevance's management claimed that premium rates negotiated with states were sufficient to manage the risks associated with Medicaid patients, despite rising Medicaid expenses [3]. - The lawsuit asserts that the financial guidance provided by Elevance did not accurately reflect the true impact of the redetermination process, leading to investor losses when the actual situation became known [3].

Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, July 07, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Elevance Health, Inc. ("Elevance" or the "Company") (NYSE: ELV) investors of a class action representing investors that bought securities between April 18, 2024 and October 16, 2024, inclusive (the "Class Period"). Elevance investors have until July 11, 2025 to file a lead plaintiff motion. Investors are encouraged to contact attorney Lesley F. ...

Core Viewpoint - A class action lawsuit has been filed against Elevance Health, Inc. for allegedly failing to disclose the impact of Medicaid redetermination on its business prospects, leading to significant financial misrepresentation [1][2]. Group 1: Allegations and Impact - The lawsuit claims that Elevance Health misled investors by stating they were monitoring Medicaid cost trends and that their premium negotiations were sufficient, despite rising Medicaid expenses [2]. - The company acknowledged rising Medicaid expenses but assured investors that these were adequately reflected in their financial guidance, which was later proven inaccurate as the acuity and utilization of Medicaid members increased significantly [2]. - Following the company's admission of increased Medicaid utilization on July 17, 2024, Elevance's stock price dropped by $32.21 per share, or 5.8%, indicating a negative market reaction to the news [3]. Group 2: Class Action Participation - Shareholders interested in participating in the class action must file their papers by July 11, 2025, to serve as lead plaintiff, representing the interests of other class members [4]. - Shareholders are not required to participate in the case to be eligible for recovery, allowing them to remain absent class members if they choose [4]. Group 3: Legal Representation - Robbins LLP operates on a contingency fee basis, meaning shareholders incur no fees or expenses for representation in the lawsuit [5].