The Shuman Law Firm Investigates Centene Corp.
June 25 2018 - 2:01PM
Business Wire
The Shuman Law Firm announces that it is investigating potential
shareholder claims against certain officers and directors of
Centene Corp. (“Centene” or the “Company”) (NYSE: CNC). Centene
provides health plans in over twenty states through Medicaid,
Medicare, and the Health Insurance Marketplace.
The Firm’s investigation relates to the Company’s approximately
$6 billion merger with Heath Net, Inc. Following this acquisition,
a class action lawsuit was filed against the Company and certain of
its senior officers and directors alleging that the Company
incorrectly accounted for Health Net’s underperforming health
plans, including by understating certain reserves to account for
losses in California, Arizona and Oregon. On July 26, 2016, the
Company filed a report with the SEC on Form 8K, stating that it was
reserving approximately $300 million for losses associated with
Health Net’s insurance plan. Following this news, the Company’s
share price fell approximately 8%, leading to a market
capitalization loss of nearly $1 billion.
If you currently own Centene common stock and are interested in
discussing your rights, or have information relating to this
investigation, please contact Kip B. Shuman or Rusty E. Glenn toll
free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com
or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in stockholder litigation.
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version on businesswire.com: https://www.businesswire.com/news/home/20180625006025/en/
The Shuman Law FirmKip B. Shuman, Esq.,
866-569-4531kip@shumanlawfirm.comorRusty E. Glenn, Esq.,
866-569-4531rusty@shumanlawfirm.comorFax: 303-536-7849Web:
www.shumanlawfirm.com
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