Shareholder Suits Against Elevance, Centene Face Long Odds

Jul 25
Jul 25, 2025

Both Centene Corp. and Elevance Health, Inc. are facing lawsuits filed in recent months that accuse them of violating federal securities laws by misleading investors about the firms’ waning financial health.

Those suits are not the first to target struggling health insurers. Humana Inc. shareholders filed litigation in July 2024 that accuses top executives of misleading investors about earnings pressures in the insurer’s Medicare Advantage business. And UnitedHealth Group shareholders filed a complaint in May 2024 that accuses the company of covering up antitrust issues that sparked a Dept. of Justice investigation.

One prominent securities law expert, however, says that it’s extremely challenging for such litigation to bear fruit.
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Leslie Small

Leslie has been working in journalism since 2009 and reporting on the health care industry since 2014. She has covered the many ups and downs of the Affordable Care Act exchanges, the failed health insurer mega-mergers, and hundreds of other storylines spanning subjects such as Medicaid managed care, Medicare Advantage, employer-sponsored insurance, and prescription drug coverage. As the managing editor of Health Plan Weekly and Radar on Drug Benefits, she writes and edits for both publications while overseeing a small team of reporters who also focus on the managed care sector. Before joining AIS Health, she was a senior editor for the e-newsletter Fierce Health Payer, and she started her career as a copy editor at multiple local newspapers. She graduated with a dual degree in journalism and political science from Penn State University.