NEW YORK, May 22, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Elevance Health, Inc. (NYSE: ELV) between April 18, 2024 and October 16, 2024, both dates inclusive (the “Class Period”), of the important July 11, 2025 lead plaintiff deadline. SO WHAT: If you purchased Elevance common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement ...

Core Insights - UnitedHealthcare is facing significant public backlash due to rising complaints about billing disputes and denied claims, highlighting systemic issues within the U.S. health insurance industry [4][5][10] - The company has seen a substantial decline in its stock value, down approximately 40% this year, attributed to various setbacks including leadership changes and rising medical costs [10][7] - UnitedHealth Group's market capitalization is nearly $275 billion, controlling about 15% of the U.S. health insurance market, serving over 29 million Americans [8] Company-Specific Issues - Sue Cover's experience with UnitedHealthcare illustrates the frustrations many patients face, including lengthy billing disputes and perceived exhaustion tactics by the insurer [2][3] - The resignation of CEO Andrew Witty amid public and investor scrutiny has raised concerns about the company's leadership and future direction [7][10] - UnitedHealthcare's claims denial rate is reportedly higher than its competitors, with a KFF report indicating a 33% denial rate for in-network claims across ACA plans in 2023 [33][34] Industry Context - The U.S. healthcare system is described as convoluted, costing over $4 trillion annually, with patients spending significantly more on healthcare than in other developed countries [15][16] - Experts attribute high healthcare costs to various factors, including hospital pricing, pharmaceutical practices, and administrative overhead, rather than just the insurers' profit motives [17][19][20] - The insurance industry, including UnitedHealthcare, is criticized for practices that can delay or deny necessary care, impacting patient outcomes [21][13] Recent Developments - UnitedHealth Group is dealing with the aftermath of a significant cyberattack on its subsidiary Change Healthcare, which affected around 190 million Americans [55][58] - The company has initiated a funding assistance program for providers impacted by the cyberattack, but reports indicate challenges in its implementation [61][62] - Legislative changes are suggested as necessary for meaningful reform in the insurance industry, but such changes may not be prioritized in the current political climate [66]

Core Viewpoint - A securities class action lawsuit has been filed against Elevance Health, Inc. for the period between April 18, 2024, and October 16, 2024, due to financial disclosures that negatively impacted the company's stock price [1][5]. Company Overview - Elevance Health, Inc. is a healthcare company based in Indianapolis, providing health insurance plans and administering Medicaid benefits for eligible beneficiaries [3]. Financial Disclosures - On July 17, 2024, Elevance announced an expected increase in Medicaid utilization, leading to a stock price decline of $32.21 per share, or 5.8%, closing at $520.93 [4]. - On October 17, 2024, Elevance reported Q3 2024 financial results, missing EPS expectations by $1.33, or 13.7%, due to elevated medical costs in its Medicaid business. The company also lowered its EPS guidance for 2024 from $37.20 to $33.00, or 11.3% [5]. - Following the October announcement, Elevance's stock price fell by $52.61 per share, or 10.6%, closing at $444.35 [6].

U.S. stock futures were mixed this morning, with the Nasdaq futures gaining around 50 points on Thursday.Shares of UnitedHealth Group Incorporated UNH fell sharply during Thursday's session.Shares of health insurance stocks traded lower after CMS announced a strategy to enhance and accelerate Medicare Advantage audits.UnitedHealth has lost nearly $140 billion from its market capitalization following a series of events such as downbeat Q1 results, CEO Andrew Witty stepping down and a potential criminal inves ...

Core Viewpoint - UnitedHealth Group is facing a class action lawsuit due to a criminal investigation by the U.S. Department of Justice regarding potential Medicare fraud, which has led to significant changes in its leadership and financial guidance [3][4]. Group 1: Legal Actions and Investigations - A class action has been initiated for investors who purchased UnitedHealth securities between December 3, 2024, and April 16, 2025, with a deadline of July 7, 2025, for filing a lead plaintiff motion [1]. - The U.S. Department of Justice is conducting a criminal investigation into UnitedHealth Group concerning potential Medicare fraud, particularly focusing on the company's Medicare Advantage business practices [3]. - The investigation has reportedly been ongoing since at least the summer of 2024, although specific details of the alleged misconduct remain unclear [3]. Group 2: Corporate Developments - On May 13, 2025, UnitedHealth announced the withdrawal of its previously revised financial guidance issued on April 17, indicating potential financial instability [4]. - Following the announcement, CEO Andrew Witty has stepped down, with Chairman Stephen Hemsley taking over as the new CEO [4].

Core Viewpoint - UnitedHealth Group's stock has significantly declined due to allegations of secret payments to nursing homes aimed at reducing hospital stays, raising concerns about the company's practices and overall stability [1][2][5] Group 1: Stock Performance - UnitedHealth Group's stock fell by 5.8% as of market close, contrasting with the S&P 500 and Nasdaq Composite, which dropped by 1.6% and 1.4% respectively [1] Group 2: Allegations and Investigations - An investigative report claims that UnitedHealth made undisclosed bonus payments to nursing homes to prevent hospital admissions, with staff allegedly intervening in cases where residents required immediate care [2][3] - The company is under investigation by the Department of Justice (DOJ) for fraudulent billing practices, adding to a series of troubling reports regarding its operations [5] Group 3: Operational Practices - UnitedHealth has integrated itself into the daily operations of nearly 2,000 nursing homes across the country, with a former executive indicating that profitability is gained by denying care, which can lead to inappropriate actions when shareholder profits are threatened [3]

Core Viewpoint - A securities class action lawsuit has been filed against Elevance Health, Inc. for alleged misrepresentation of financial conditions during the Class Period from April 18, 2024, to October 16, 2024 [1][2]. Company Overview - Elevance Health, Inc. is a healthcare company based in Indianapolis, providing health insurance plans and administering Medicaid benefits for eligible beneficiaries [3]. Allegations and Financial Impact - The lawsuit claims that Elevance misled investors by stating they were monitoring cost trends related to the Medicaid "redetermination" process and that premium rates were sufficient to cover rising costs [4]. - The actual situation revealed that the redetermination process led to a significant increase in Medicaid member utilization, as healthier members were being removed from the program, which was not reflected in Elevance's financial guidance [5]. - On July 17, 2024, Elevance disclosed an expected increase in Medicaid utilization, resulting in a stock price drop of $32.21 per share, or 5.8%, closing at $520.93 [6]. - Following the Q3 2024 financial results announcement on October 17, 2024, where Elevance missed EPS expectations by $1.33 (13.7%) and lowered EPS guidance for 2024 from $37.20 to $33.00 (11.3%), the stock price fell by $52.61 per share, or 10.6%, closing at $444.35 [7][8].

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive has bureaus and studios in key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Group 2 - The company is focused on sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] - Proactive adopts technology to enhance workflows and improve content production [4] - Automation and software tools, including generative AI, are used, but all content is edited and authored by humans [5]

Investors have until July 11, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Elevance common stock. The case is pending in the U.S. District Court for the Southern District of Indiana and is captioned Miller v. Elevance Health, Inc., et al., No. 25-cv-0092. Why was Elevance Sued for Securities Fraud? Elevance provides health insurance plans. This includes contract ...

Core Viewpoint - Rosen Law Firm is reminding investors who purchased UnitedHealth Group securities between December 3, 2024, and May 12, 2025, about the upcoming lead plaintiff deadline for a securities class action lawsuit set for July 7, 2025 [1][2]. Group 1: Class Action Details - Investors who bought UnitedHealth securities during the specified Class Period may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and those wishing to serve as lead plaintiff must act by July 7, 2025 [3]. - The lawsuit alleges that UnitedHealth engaged in a corporate strategy of denying health coverage to increase profits, which led to regulatory scrutiny and public backlash [5]. Group 2: Legal Representation - Investors are encouraged to select qualified legal counsel with a proven track record in securities class actions, as many firms may lack the necessary experience and resources [4]. - The Rosen Law Firm has a history of successful settlements in securities class actions, including a notable settlement against a Chinese company and has recovered hundreds of millions for investors [4]. Group 3: Case Allegations - The lawsuit claims that UnitedHealth's misleading statements and failure to disclose critical information resulted in significant investor damages when the truth was revealed [5]. - Specific allegations include that UnitedHealth's practices led to public outrage and regulatory scrutiny, culminating in a tragic incident involving an individual named Brian Thompson [5].