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 Firms investigation relates to the Companys 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 Nets 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 Nets insurance plan. Following this news, the Companys 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 [email protected] or Mr. Glenn at [email protected].
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in stockholder litigation.
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The Shuman Law Firm
Kip B. Shuman, Esq.
Rusty E. Glenn, Esq.
Montgomery Street, Ste. 1800
San Francisco, CA 94104
Email: [email protected]