SAN DIEGO, Dec. 05, 2016 (GLOBE NEWSWIRE) -- 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.