LAWSUITS NEWS & LEGAL INFORMATION
Centene Corporation CNC Securities Lawsuit
|Class Period:||Feb-7-12 to Jun-8-12|
|Lead Plaintiff Deadline:||Aug-28-12|
|Court:||Eastern District of Missouri|
Centene operates as a multiline healthcare company in the United States. On June 11, 2012, the Company's stock price plunged over 22% after the Company cut its full-year profit and revenue forecasts due to higher-than-expected medical costs. Centene revised its projections to earnings of $1.45 to $1.65 per share for 2012 versus a previous forecast of $2.64 to $2.84 per share. In addition, the Company also disclosed that expenses were above projections for commercial polices sold by its Celtic Insurance unit and Centene was evaluating goodwill and intangible assets at the unit that may result in a non-cash charge of about $28 million.
The complaint alleges that Centene misrepresented its financial condition and failed to inform investors that the Company's 2012 outlook, provided at the start of the Class Period, lacked a reasonable basis when made due to already existing and understood competitive pressures.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
Centene Corporation CNC Securities Fraud Legal HelpIf you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Centene Corporation securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.
Published on Jul-2-12
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