Investigation announced for Long-Term Investors in shares of Elevance Health, Inc. (NYSE: ELV) over potential Wrongdoing

An investigation was announced for current long-term investors in shares of Elevance Health, Inc. (NYSE: ELV) concerning potential breaches of fiduciary duties by certain directors of Elevance Health, Inc.

Investors who are current long term investors in Elevance Health, Inc. (NYSE: ELV) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NYSE: ELV stocks follows a lawsuit filed against Elevance Health, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: ELV stocks, concerns whether certain Elevance Health, Inc. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Southern District of Indiana the plaintiff alleges that, the Defendants represented to investors that they were closely monitoring cost trends associated with the redetermination process and that the premium rates Elevance was negotiating with states were sufficient to address the risk and cost profiles of those patients staying on Medicaid programs, that in fact, sicker patients with higher acuity tended to remain on Medicaid after redetermination, leading to higher per-patient costs, that this increase in cost was occurring at a rate that was not adequately reflected in Elevance's rate negotiations with the states or in its financial guidance for 2024, and that as a result, the Complaint alleges Defendants' positive statements concerning Elevance's close monitoring of the redeterminations, the actuarial soundness of its rates and the prudence of its forecasts were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Elevance Health, Inc. (NYSE: ELV) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.