NEW YORK, July 09, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Centene Corporation (“Centene” or the “Company”) (NYSE:CNC) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired Centene securities between December 12, 2024 to June 30, 2025, both dates inclusive (the “Class Period”). Investors have until September 8, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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According to the complaint, defendants created the false impression that they possessed reliable information pertaining to the Company’s projected revenue outlook and anticipated growth while also touting enrollment rates and low morbidity. In truth, Centene’s optimistic reports and promises regarding the Company’s inflated guidance fell short of reality when a preliminary analysis of over two-thirds of Centene’s marketplace share showed lower-than-anticipated enrollment and increased aggregate market morbidity.
Plaintiff alleges that on July 1, 2025, Centene issued a press release withdrawing 2025 guidance. Specifically, following an analysis of the 2025 Health Insurance Marketplace, Centene’s overall market growth across 22 states, or 72% of the Company’s marketplace membership, was lower than expected. In pertinent part, the Company stated that this preliminary analysis resulted in a reduction of its previously issued guidance to approximately $1.8 billion or an adjusted diluted EPS of $2.75. On this news, Centene's common stock fell from %56.65 per share on July 1, 2025, to $44.78 per share on July 2, 2025, a decline of over 40%.
If you purchased or otherwise acquired Centene shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
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Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
