Rigrodsky & Long, P.A. announces that it has initiated an investigation of Centene Corporation (“Centene” or the “Company”) (NYSE: CNC) during the period of February 7, 2012 through June 8, 2012, inclusive (the “Relevant Period”) for possible violations of the federal securities laws. The investigation arises from the Company’s announcement in its June 11, 2012 press release that it is revising its 2012 guidance to $1.45 to $1.65 per diluted share, from the previously announced range of $2.64 to $2.84 per diluted share. The revised guidance range reflects negative financial results in May for the Company’s Kentucky Health Plan and the Hidalgo service area of their Texas Health Plan, as well as in the Celtic individual health business. Additionally, per the press release, the Company is evaluating the goodwill and intangible assets of its Celtic business unit which may result in a non-cash impairment charge of approximately $28 million.
If you have any information concerning the foregoing, or wish to discuss this investigation or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to email@example.com, or at http://www.rigrodskylong.com/investigations/centene-corporation-cnc.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
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