Lawsuit for Investors in Centene Corp (NYSE:CNC) shares announced by Shareholders Foundation
December 05 2016 - 10:25AM
The Shareholders Foundation, Inc. announces that a lawsuit was
filed in California on behalf of certain purchasers of shares of
Centene Corp (NYSE:CNC) over alleged Securities Laws Violations by
Centene Corp.
Investors who purchased shares of Centene Corp (NYSE:CNC) have
certain options and for certain investors there are short and
strict deadlines running. Deadline: January 13, 2017. (NYSE:CNC)
investors should contact the Shareholders Foundation at
mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that between the defendants failed to
inform investors that certain Health Net insurance programs were
significantly underperforming, that Health Net’s insurance plans
were generating material losses, that Centene Corp had overstated
Health Net’s financial prospects, and that, as a result of the
foregoing, defendants’ statements about Centene Corp’s business,
operations, and prospects were false and misleading and/or lacked a
reasonable basis.
On March 24, 2016, Centene Corp announced the acquisition of
Health Net, Inc. (“Health Net”), a health care insurance
provider.
On July 26, 2016, Centene Corp 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.”
Those who purchased Centene Corp (NYSE:CNC) shares should
contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio
legal monitoring and a settlement claim filing service, which does
research related to shareholder issues and informs investors of
securities class actions, settlements, judgments, and other legal
related news to the stock/financial market. The Shareholders
Foundation, Inc. is not a law firm. The information is provided as
a public service. It is not intended as legal advice and should not
be relied upon.
CONTACT: Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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