SAN DIEGO, May 13, 2025 /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that the Elevance Health class action lawsuit – captioned Miller v. Elevance Health, Inc., No. 25-cv-00923 (S.D. Ind.) – seeks to represent purchasers of Elevance Health, Inc. (NYSE: ELV) common stock and charges Elevance Health and certain of Elevance Health's top executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Elevance Health class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-elevance-health-inc-class-action-lawsuit-elv.html 

You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Elevance Health class action lawsuit must be filed with the court no later than July 11, 2025.

CASE ALLEGATIONS: Elevance Health operates as a health benefits company. Among other things, the cost of providing health benefits to members is driven by the level of care a patient requires, often referred to as "acuity," and the members' utilization of the health benefits, according to the complaint.

The Elevance Health class action lawsuit alleges that defendants throughout the class period made false and/or misleading statements and/or failed to disclose that: (i) Medicaid redeterminations were causing the acuity and utilization of Elevance Health's Medicaid members to rise significantly, as the members being removed from Medicaid programs were, on average, healthier than those who remained eligible for the programs; and (ii) this shift was occurring to a degree that was not reflected in Elevance Health's rate negotiations with the states or in its financial guidance for 2024.

The Elevance Health class action lawsuit further alleges that on July 17, 2024, Elevance Health revealed that it was now "expecting second half utilization to increase in Medicaid" and that it was "seeing signs of increased utilization across the broader Medicaid population, including in outpatient home health, radiology, durable medical equipment as well as some elective procedures." On this news, the price of Elevance Health stock fell nearly 6%, according to the complaint.

Then, on October 17, 2024, the Elevance Health class action lawsuit further alleges that Elevance Health announced its financial results for the third quarter of 2024, revealing that Elevance Health 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." Elevance Health further revealed that it was lowering EPS guidance for 2024 from $37.20 to $33.00, or 11.3%, as it expected these Medicaid issues to continue, according to the complaint. The Elevance Health class action lawsuit alleges that on this news, the price of Elevance Health stock fell nearly 11%.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Elevance Health common stock during the class period to seek appointment as lead plaintiff in the Elevance Health class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Elevance Health class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Elevance Health class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Elevance Health class action lawsuit.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Past results do not guarantee future outcomes. 

Services may be performed by attorneys in any of our offices. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/elv-investor-alert-elevance-health-inc-investors-with-substantial-losses-have-opportunity-to-lead-the-elevance-health-class-action-lawsuit-302454519.html

SOURCE Robbins Geller Rudman & Dowd LLP