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Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Centene Corporation (CNC)

2025-07-11

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NEW YORK, July 11, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Centene Corporation (“Centene” or the “Company”) (NYSE: CNC) securities between December 12, 2024 and June 30, 2025, both dates inclusive (the “Class Period”).

The Complaint alleges that 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, the Company’s optimistic reports and promises regarding the Company’s inflated guidance fell short of reality when a preliminary analysis of over two-thirds of the Company’s marketplace share showed lower-than-anticipated enrollment and increased aggregate market morbidity.

The Complaint further alleges that, on July 1, 2025, the Company withdrew its 2025 guidance. Particularly, 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. The Company also 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, the price of Centene stock fell by more than 40%.

Investors who purchased or otherwise acquired shares of Centene should contact the Firm prior to the _September 8, 2025 _lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com .

Please visit our website at http://www.gme-law.com for more information about the firm.