DALLAS--(BUSINESS WIRE)--
Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed against Centene Corp. (“Centene”) (NYSE: CNC) and several officers and directors for acts taken during the period of April 26, 2016 to September 6, 2016 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of Centene. If you are an affected Centene shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at [email protected], Patrick Powers at Powers Taylor LLP via email at [email protected], or call toll free at (877) 728-9607. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants issued materially false and misleading statements regarding the acquisition of Health Net, Inc. on March 24, 2016. According to the complaint, Centene failed to disclose that: (1) certain Health Net insurance programs were significantly underperforming, which led to the need to increase reserves to offset losses caused by these programs; (2) Centene overstated the financial prospects of Health Net; and (3) as a result of the above, Centene’s statements regarding its business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times. Centene stock dropped significantly immediately following this announcement.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
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