Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that the firms are investigating legal claims against the officers and Board of Directors of Centene Corporation (“Centene”) (NYSE: CNC) related to potential securities violations by Centene between February 7, 2012 and June 8, 2012 (the “Class Period”).
If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
In a recently filed federal class action complaint, Centene and certain of its officers and directors were charged with violating certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that defendants’ misrepresented and/or failed to disclose that during the Class Period the Company's profit and revenue forecasts issued in January 2012 and increased in April 2012 were lacking in any reasonable basis and that, at the time Centene issued its profit and revenue forecast in January 2012, Centene’s insiders knew that the competitive landscape in its industry was more difficult than described and would thus make Centene’s guidance impossible to achieve. According to the complaint, after, on June 11, 2012, Centene announced that it was cutting its full-year profit and revenue forecasts because of higher-than-expected medical costs, that it was significantly lowering its earnings projections for 2012, that expenses were above projections, and that it was evaluating goodwill and intangible assets that may result in a non-cash charge of about $28 million, the value of Centene shares declined significantly
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.