Securities Fraud Investigation Into Elevance Health, Inc. (ELV) Announced – Investors Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Elevance Health, Inc. (“Elevance” or the “Company”) (NYSE: ELV) on behalf of investors concerning the Company’s possible violations of federal securities laws.

IF YOU ARE AN INVESTOR WHO LOST MONEY ON ELEVANCE HEALTH, INC. (ELV), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS.

What Is The Investigation About?

On July 17, 2024, Elevance disclosed that it was “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, Elevance’s stock price fell $32.21, or 5.8%, to close at $520.93 per share on July 17, 2024, thereby injuring investors.

Then, on October 17, 2024, Elevance released its third quarter 2024 financial results, missing EPS consensus estimates by 13.7% “due to elevated medical costs in [its] Medicaid business.” Additionally, the Company lowered its EPS guidance for 2024 by 11.3%.

On this news, Elevance’s stock price fell $52.61, or 10.6%, to close at $444.35 per share on October 17, 2024, thereby injuring investors further.

Contact Us To Participate or Learn More:

If you purchased Elevance securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
The Law Offices of Frank R. Cruz
2121 Avenue of the Stars, Suite 800
Century City, California 90067
Call us at: 310-914-5007
Email us at: [e-mail]
Visit our website at: www.frankcruzlaw.com.
Follow us for updates on Twitter at twitter.com/FRC_LAW.

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

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