An investor, who purchased NYSE:CNC shares, filed a lawsuit over alleged violations of Federal Securities Laws by Centene Corp.
Investors who purchased shares of Centene Corp (NYSE:CNC) have certain options and for certain investors 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.
According to the complaint the plaintiff alleges on behalf of purchasers of Centene Corp (NYSE:CNC) common shares between April 26, 2016 and September 6, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 26, 2016 and September 6, 2016 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.”
Shares of Centene Corp (NYSE:CNC) declined from $75.39 per share in July 2016 to as low as $50.00 per share on November 9, 2016.
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
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