Archived Investigations
Elevance Health, Inc. (NYSE: ELV)
Elevance and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 17, 2024, the Company released its financial results for 3Q 2024, disclosing that the Company had missed consensus earnings per share (“EPS”) expectations for the quarter by $1.33, or 13.7%, “due to elevated medical costs in [its] Medicaid business,” and that it was lowering EPS guidance for 2024 from $37.20 to $33.00, or 11.3%, as it expected Medicaid issues to continue.
On this news, the price of Elevance’s shares plummeted by $52.61 per share, or 10.6%, from a closing price of 496.96 on October 16, 2024, to a closing price of $444.35 on October 17, 2024.
The case is Miller v. Elevance Health, Inc., No. 25-cv-923