Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Southern District of Indiana on behalf of shareholders of Elevance Health, Inc. who purchased shares between April 18, 2024 and October 16, 2024.
Elevance and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 17, 2024, the Company released its financial results for 3Q 2024, disclosing that the Company had missed consensus earnings per share (“EPS”) expectations for the quarter by $1.33, or 13.7%, “due to elevated medical costs in [its] Medicaid business,” and that it was lowering EPS guidance for 2024 from $37.20 to $33.00, or 11.3%, as it expected Medicaid issues to continue.
On this news, the price of Elevance’s shares plummeted by $52.61 per share, or 10.6%, from a closing price of 496.96 on October 16, 2024, to a closing price of $444.35 on October 17, 2024.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until July 11, 2025 to request that the court appoint them lead plaintiff.