Rosen Law Firm, a global investor rights law firm, reminds investors that a shareholder filed a class action on behalf of purchasers of common stock of Elevance Health, Inc. (NYSE: ELV) between April 18, 2024, and October 16, 2024. Elevance describes itself as a “healthcare company that provides health insurance plans to a variety of markets.”

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The Allegations: Rosen Law Firm is Investigating the Allegations that Elevance Health, Inc. (NYSE: ELV) Misled Investors Regarding its Business Operations.

According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that, with the Medicaid redetermination process nearly complete, 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. While defendants acknowledged that Medicaid expenses were rising, they repeatedly assured investors that this was adequately reflected in Elevance’s guidance for the year. These representations were materially false or misleading. In truth, the redeterminations were causing the acuity and utilization of Elevance’s Medicaid members to rise significantly, as the members being removed from Medicaid programs were, on average, healthier than those who remained eligible for the programs. This shift was occurring to a degree that was not reflected in Elevance’s rate negotiations with the states or in its financial guidance for 2024. When the true details entered the market, the lawsuit claims that investors suffered damages.

What Now: You may be eligible to participate in the class action against Elevance Health, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by July 11, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders.

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