San Diego, CA -- (ReleaseWire) -- 06/18/2012 -- An investigation on behalf of investors in NYSE:CNC shares over potential securities laws violations by certain officers and directors at Centene Corp in connection with certain financial statements was announced.
Investors who purchased shares of Centene Corp (NYSE:CNC), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Centene Corp (NYSE:CNC) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements about Centene’s business, its prospects and its operations were potentially materially false and misleading at the time they were made.
Centene Corp (NYSE:CNC) reported that its annual Revenue increased from $3.27billion in 2008 to $5.18billion in 2011 and its Net Income rose from $83.50million to $111.22million in 2011.
Shares of Centene Corp (NYSE:CNC) rose from as low as $13.69 per share in April 2008 to as high as $50.80 per share on April 5, 2012.
Then on June 11, 2012, Centene Corporation (NYSE: CNC) announced 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.
Centene Corporation said the revised guidance range reflects negative financial results in May for its Kentucky Health Plan and the Hidalgo service area in its Texas Health Plan, as well as in the Celtic individual health business.
NYSE:CNC shares fell from $35.48 per share on June 8, 2012 to $24.73 per share on June 11, 2012.
NYSE:CNC shares closed on June 15, 2012 at $28.20 per share.
Those who purchased shares of Centene Corp (NYSE:CNC), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego