SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has commenced an investigation into whether certain officers and directors of WellCare Health Plans, Inc. (NYSE: WCG) violated state or federal laws. WellCare provides managed care services for government-sponsored health care programs in the United States.
On July 25, 2014, WellCare stock dropped more than 20% in early morning trading after the Company reported financial results for the second quarter ended June 30, 2014. In its report WellCare announced that it missed earnings forecasts by 97 cents and reduced its low-end guidance for the full year in half. The Company now expects net income per share to be between $2.20 and $2.50. The Company’s previous guidance for net income was for a range between $4.40 and $4.75 per share.
Johnson & Weaver’s investigation will seek to determine if certain statements concerning WellCare’s business, operations, and prospects violated state or federal laws.
If you have information that could assist in this investigation, or if you are a WellCare shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) by email or by phone at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.