NEW YORK--(BUSINESS WIRE)--The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Molina Healthcare, Inc. ("Molina Healthcare, Inc.") (NYSE:MOH) between October 31, 2014 and August 2, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Central District of California. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Molina's administrative infrastructure was never designed to handle the size and complexity of its rapid growth strategy; and (2) it failed to remediate systemic issues and costly disruptions with critical administrative infrastructure functions, including provider payment and utilization management. On April 28, 2016, Molina reported an earnings miss for the first quarter ended March 31, 2016 and reduced its full-year 2016 earnings guidance. On August 2, 2017, Molina withdrew its 2017 earnings projection, reported a net loss of $230 million for the second quarter ended June 30, 2017, and revealed it would exit certain ACA Health Exchange markets.
If you suffered a loss in Molina Healthcare, Inc. you have until June 29, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.