STEVENSON, Md., July 3, 2012 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Missouri on behalf of purchasers of the common stock of Centene Corporation ("Centene" or the "Company") (NYSE:CNC) during the period between February 7, 2012 and June 8, 2012, inclusive (the "Class Period").
If you have suffered a net loss for all transactions in Centene Corporation common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at firstname.lastname@example.org, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than August 28, 2012 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.
The Complaint charges certain of the Company's executive officers with violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period that 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 the Company issued its profit and revenue forecast in January 2012, the Company's insiders knew that the competitive landscape in its industry was more difficult than described and would thus make the Company's guidance impossible to achieve. According to the complaint, after, on June 11, 2012, the Company 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.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation Stevenson, Maryland 410/415-6616 email@example.com