The Shuman Law Firm Investigates Centene Corp.
February 7, 2019
DENVER–(BUSINESS WIRE)–The
Shuman Law Firm announces that it is investigating potential
shareholder claims against certain officers and directors of Centene
Corp. (“Centene” or the “Company”) (NYSE: CNC).
Centene provides health plans in over twenty states through Medicaid,
Medicare, and the Health Insurance Marketplace.
The Firm’s investigation relates to the Company’s approximately $6
billion merger with Health Net, Inc. Following this acquisition, a class
action lawsuit was filed against the Company and certain of its senior
officers and directors alleging that the Company incorrectly accounted
for Health Net’s underperforming health plans, including by understating
certain reserves to account for losses in California, Arizona and
Oregon. On July 26, 2016, the Company filed a report with the SEC on
Form 8K, stating that it was reserving approximately $300 million for
losses associated with Health Net’s insurance plan. Following this news,
the Company’s share price fell approximately 8%, leading to a market
capitalization loss of nearly $1 billion.
If you currently own Centene common stock and are interested in
discussing your rights, or have information relating to this
investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free
at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com
or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in stockholder litigation.
Contacts
The Shuman Law Firm
Kip B. Shuman, Esq.
Rusty E. Glenn, Esq.
One
Montgomery Street, Ste. 1800
San Francisco, CA 94104
Tel:
866.569.4531
Fax: 303.536.7849
Email: kip@shumanlawfirm.com
Email:
rusty@shumanlawfirm.com
Web:
www.shumanlawfirm.com