Faruqi and Faruqui, LLP Logo
Share this page

Centene Corp. (CNC)

NYSE:CNC

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Centene Corp. To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Centene Corp. (“Centene” or the “Company”) (NYSE:CNC) of the January 13, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased Centene stock or options between April 26, 2016 and September 6, 2016 (the “Class Period”).  The case, Sanchez v. Centene Corp. et al, No. 16-cv-08469 was filed on November 14, 2016.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose negative developments in Health Net, Inc. following its acquisition by Centene on March 24, 2016.

Specifically, on July 26, 2016, Centene announced that it was reserving approximately $300 million for losses associated with Health Net’s insurance plan for medical claims associated with disputed costs for substance abuse treatment centers.

After the announcement, Centene’s share price fell from $75.26  per share on July 25, 2016 to a closing price of $68.87 on July 26, 2016—a $6.39 or a 8.5% drop.

Then, on September 6, 2016, Leerink Partners, LLC issued a report downgrading Centene stock due to underperformance of the Health Net legacy insurance programs, including Health Net’s California substance abuse programs.

After the announcement, Centene’s share price fell from $68.62 per share on September 5, 2016 to a closing price of $65.30 on September 6, 2016—a $3.32 or a 4.8% drop.


 

Take Action

If you invested in Centene stock or options between April 26, 2016 and September 6, 2016 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Centene’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Centene Corp. (CNC)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 11/15/2016

Send Information

If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.