An investigation for investors in Centene Corp (NYSE:CNC) shares over potential securities laws violations by Centene was announced and NYSE:CNC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/12/2016 -- An investigation on behalf of investors of Centene Corp (NYSE:CNC) shares was announced concerning possible securities laws violations by Centene in connection certain financial statements.
Investors who purchased shares of Centene Corp (NYSE:CNC), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Centene Corp (NYSE:CNC) concerning whether a series of statements by Centene regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On March 24, 2016, Centene Corp announced the acquisition of Health Net, Inc. ("Health Net"), a health care insurance provider.
According to the investigation Centene Corp assured investors in the months following the acquisition of Health Net that there had been no negative developments in the Health Net medical reserves.
Then on July 26, 2016, Centene Corp announced that, "we did increase reserves for medical claims primarily associated with disputed substance abuse treatment center costs. Additionally, we recorded premium deficiency reserves primarily associated with Arizona and the California individual PPO business." Shares of Centene Corp (NYSE:CNC) declined to as low as $63.4 per share on July 26, 2016.
On September 9, 2016, NYSE:CNC shares closed at $66.85 per share.
Those who purchased shares of Centene Corp have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego