On March 24, 2016, Centene announced its acquisition of a health care insurance provider, Health Net, Inc. Following the acquisition of Health Net, Centene guaranteed investors that there had been no negative developments in the Health Net medical reserves.
On July 26, 2016, the Company said 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." Following this news, Centene stock dropped close to 9%, to close at just $68.87 on July 26, 2016.
If you purchased Centene shares or if you are aware of any facts relating to this investigation, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/cnc. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
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