An investigation for investors in NYSE:CNC shares over potential securities laws violations by Centene and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of Centene Corp (NYSE:CNC), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Centene Corp (NYSE:CNC) concerning whether a series of statements by Centene regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Centene Corp reported that its annual Total Revenue rose from $16.56 billion in 2014 to $22.76 billion in 2015 and that its Net Income increased from $271 million in 2014 to $356 million in 2015.
On March 24, 2016, Centene Corp announced the acquisition of Health Net, Inc. (“Health Net”), a health care insurance provider.
According to the investigation Centene Corp assured investors in the months following the acquisition of Health Net that there had been no negative developments in the Health Net medical reserves.
Then 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.”
Shares of Centene Corp (NYSE:CNC) declined to as low as $63.4 per share on July 26, 2016.
On September 16, 2016, NYSE:CNC shares closed at $67.30 per share.
Those who purchased NYSE:CNC shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com