A federal judge ruled that Elevance Health and four of its executives must face an investor lawsuit. The lawsuit alleges the company recklessly misrepresented the severe financial impact of rising Medicaid costs after pandemic-era enrollment protections were lifted. The ruling highlighted "unusual stock sales" by top executives as a factor strengthening the case.
https://news.bloomberglaw.com/securities-law/elevance-investor-advances-post-pandemic-medicaid-costs-lawsuit
And don’t worry they will RIF more frontline jobs to PAY the fees for fine we will get slapped with.
Gail deserves to rot in prison!
Must be one of Felicia's "moments that earn trust" 🤔😉
@k7 Here's another piece about it, though it doesn't provide any information that wasn't available when the suit was originally filed last year.
https://wisevoter.com/world/us/2026/10/01/elevance-health-investor-lawsuit
Anyone with Bloomberg account able to post the story?
@fj Agree. When they settle because they are primarily funded by the government, what is really occurring is they are using the government’s money (aka each of our tax payer’s money) to settle with.
@f5 Yeah, I and many others are sick of attorney general and doj allowing these 5 major private for-profit health insurance corporations to be allowed to just settle with a payment.
These corporations have these settlements built into their business model. And guess where the money comes from to pay these settlements?
Yep, American tax payers. So, basically when they break the law, the government makes them settle government dollars. Now, how in the world does that make sense?!
“Hey, we are suing you! Okay, so now that you are settling, here is the money to pay us. Oh, don’t worry about it making sense because it is the tax payer’s money anyway. So we don’t really care.”
Here is what I and many others want. We want the CEO and other C-Suite Executives to go to prison! And we want it to be majorily televised when it happens!
The company will settle out of court and admit no wrongdoing. Same old pattern of lies rewarded by bonuses.
@av • Mark B. Kaye – Executive Vice President and Chief Financial Officer (CFO)
• Stephen V. Tanal – Vice President of Investor Relations
It is behind a paywall. Any details to share?
Hooray, more sh-t that's going to roll downhill on us in the form of layoffs, sh---y benefits, etc.
Ratnakar has the Nike lawsuit ongoing. Does that mean we have 5 out of ? are facing fraud charges?
Gail and Felicia are named. Who are the other 2?