WellCare Health Plans, Inc. Securities Litigation (2019)

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Lawsuit Overview

Defendant:WellCare Health Plans, Inc.
Date Filed:May 8th, 2019
Sector:Health Care
Industry:Medical Specialities

According to the Complaint, WellCare Health Plans, Inc. focuses primarily on providing government-sponsored managed care services to families, children, seniors, and individuals with complex medical needs primarily through Medicaid, Medicare Advantage, and Medicare Prescription Drug Plans, as well as individuals in the Health Insurance Marketplace.

This action stems from a proposed transaction announced on March 27, 2019, pursuant to which WellCare will be acquired by Centene Corporation. Pursuant to the terms of the Merger Agreement, WellCare's stockholders will receive 3.38 shares of Parent and $120.00 in cash for each share of WellCare common stock they own.

On May 3, 2019, Defendants filed a Registration Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.

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First Identified Complaint

Michael Kent, et al. v. WellCare Health Plans, Inc., et al.

Date Filed:May 8th, 2019
Class Period Start:March 27th, 2019
Class Period End:May 8th, 2019
First Identified Complaint Filings
#Document TitleFiling Date