WAYNE, Pa., Nov. 30, 2016 /PRNewswire/ -- Ryan &
Maniskas, LLP announces that a class action lawsuit has been filed
in United States District Court for the Central District of
California on behalf of all
persons or entities that purchased Centene Corporation (NYSE: CNC)
("Centene" or the "Company") common shares between April 26, 2016 and September 6, 2016, inclusive (the "Class
Period").
Centene shareholders may, no later than January 17, 2017, move the Court for appointment
as a lead plaintiff of the Class. If you purchased shares of
Centene and would like to learn more about these claims or if you
wish to discuss these matters and have any questions concerning
this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877)
316-3218 or to sign up online, visit:
www.rmclasslaw.com/cases/cnc.
On March 24, 2016, the Company
completed the acquisition of Health Net, Inc. ("Health Net") for
approximately $6 billion, including
the assumption of debt. The acquisition was accounted for as a
business combination, which requires that assets acquired and
liabilities assumed be recognized at their fair values as of the
acquisition date.
The Complaint alleges that Defendants made materially false
and/or misleading statements concerning the recent acquisition of
Health Net as well as failed to disclose material adverse facts
about the Company's business, operations, and prospects, including
the underperformance of Health Net legacy insurance programs and
the need to increase reserves to offset losses caused by these
programs. The complaint further alleges that Defendants failed to
inform investors: 1) that certain Health Net insurance programs
were significantly underperforming; 2) that Health Net's insurance
plans were generating material losses; 3) that Centene had
overstated Health Net's financial prospects; and 4) that, as a
result of the foregoing, Defendants' statements about Centene's
business, operations, and prospects were false and misleading
and/or lacked a reasonable basis.
If you are a member of the class, you may, no later than
January 17, 2017, request that the
Court appoint you as lead plaintiff of the class. A lead
plaintiff is a representative party that acts on behalf of other
class members in directing the litigation. In order to be
appointed lead plaintiff, the Court must determine that the class
member's claim is typical of the claims of other class members, and
that the class member will adequately represent the class.
Under certain circumstances, one or more class members may
together serve as "lead plaintiff." Your ability to share in
any recovery is not, however, affected by the decision whether or
not to serve as a lead plaintiff. You may retain Ryan &
Maniskas, LLP or other counsel of your choice, to serve as your
counsel in this action.
For more information regarding this, please contact Ryan &
Maniskas, LLP (Richard A. Maniskas,
Esquire) toll-free at (877) 316-3218 or by email at
rmaniskas@rmclasslaw.com or visit:
www.rmclasslaw.com/cases/cnc. For more information about
class action cases in general or to learn more about Ryan &
Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide.
CONTACT: Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
995 Old
Eagle School Rd., Suite 311
Wayne, PA
19087
484-588-5516
877-316-3218
www.rmclasslaw.com/cases/cnc
rmaniskas@rmclasslaw.com
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SOURCE Ryan & Maniskas, LLP