Stock Price Dip Leads To Class Actions Against Centene

Law360, New York (August 11, 2006, 12:00 AM EDT) -- Less than a month after Centene Corp. announced preliminary financial results that sent stock prices plummeting, at least two securities class action lawsuits have already been filed against the health care enterprise.

The latest suit, filed Wednesday in the U.S. District Court for the Eastern District of Missouri, claims that Centene issued false and misleading statements and omitted facts about its financial well-being to artificially inflate stock prices.

“Defendants materially misled the investing public,” the suit said.

According to the complaint, Centene, its chief executive Michael...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.