ATLANTA, GA -- (Marketwire) -- 07/17/12 -- Holzer Holzer & Fistel, LLC announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of Missouri on behalf of purchasers of Centene Corporation ("Centene" or the "Company") (NYSE: CNC) who purchased shares between February 7, 2012 and June 8, 2012, inclusive (the "Class Period"). On June 11, 2012, Centene announced that it was cutting full-year profit and revenue forecasts due to higher-than-expected medical costs. The Company also disclosed that expenses related to commercial insurance policies sold by its Celtic Insurance unit were above expectations and that it was evaluating whether a non-cash charge of approximately $28 million should be taken. The lawsuit alleges the Centene violated the federal securities laws by issuing its original 2012 financial outlook which, according to the complaint, lacked any reasonable basis due to then-existing competitive pressures.
If you purchased Centene common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than August 28, 2012. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you are a Centene investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at firstname.lastname@example.org, or email@example.com, or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.