Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of purchasers of the securities of Centene Corporation (“Centene” or the “Company”) (NYSE:CNC) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by Centene between February 7, 2012 and June 8, 2012 were false and misleading concerning the Company’s financial performance and prospects.
Centene operates as a multiline healthcare company in the United States that provides Medicaid and Medicaid-related health plan coverage to individuals through government subsidized programs, including Medicaid, foster care and Medicare special needs plans, among others. The investigation concerns allegations that during the foregoing period the Company misrepresented or failed to disclose that: (1) Centene’s profit and revenue forecasts issued in January 2012, and increased in April 2012, were lacking in any reasonable basis; (2) at the time the Company issued its revenue forecast in January 2012, Company insiders knew that the competitive landscape in the industry was more difficult than described and would thus make the Company’s guidance impossible to achieve; (3) certain Company insiders capitalized on this material adverse information to sell Centene shares at inflated prices before the truth concerning the Company’s financial performance was disclosed to the market; (4) the Company lacked adequate internal and financial controls; and (5), as a result of the above, the Company’s statements concerning its business and operational prospects were materially false and misleading at all relevant times.
If you purchased Centene securities between February 7, 2012 and June 8, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com.
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