INVESTOR ALERT: Investigation of Centene Corp. Announced by Law Offices of Howard G. Smith
September 09 2016 - 11:13AM
Business Wire
Law Offices of Howard G. Smith announces an investigation
on behalf of investors of Centene Corp. (“Centene” or the
“Company”) (NYSE: CNC) concerning the Company and its officers’
possible violations of federal securities laws.
On March 24, 2016, Centene issued a press release announcing the
acquisition of Health Net, Inc. (“Health Net”) a health care
insurance provider. In the months following the acquisition of
Health Net, Centene assured investors that there had been no
negative developments in the Health Net medical reserves.
However, on July 26, 2016, the Company announced that, “we did
increase reserves for medical claims primarily associated with
disputed substance abuse treatment center costs. Additionally, we
recorded premium deficiency reserves primarily associated with
Arizona and the California individual PPO business.”
On this news, Centene shares fell nearly 9%, to close at just
$68.87 on July 26, 2016.
If you purchased Centene securities, have information or would
like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Howard G. Smith, Esquire,
of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847,
toll-free at (888) 638-4847, or by email
to howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160909005601/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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