HARTFORD, Conn., March 18, 2008 (PRIME NEWSWIRE) -- The law firm of Schatz Nobel Izard P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of Indiana on behalf of all persons who purchased the common stock of WellPoint, Inc. ("WellPoint" or the "Company") (NYSE:WLP) between January 23, 2008 and March 10, 2008, inclusive (the "Class Period").
The Complaint charges that WellPoint, a health benefits company, and certain of its officers and directors violated federal securities laws. Specifically, defendants misled the market by issuing false and misleading earnings guidance. When defendants disclosed the truth to the market on March 10, 2008, the price of WellPoint's common stock dropped 28.3% to close at $47.26 per share.
If you are a member of the class, you may, no later than May 19, 2008, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
While Schatz Nobel Izard P.C. has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, class action cases in general, and your rights, please contact Schatz Nobel Izard P.C. toll-free at (800) 797-5499, or by e-mail at firm@snilaw.com, or visit our website: www.snilaw.com.