Ppl if any of you are stockholders via ESPP - you are a shareholder. You decided to invest in a company that appears to be going up and earnings calls talking about all these new ventures Molina has going on. I mean you would be crazy not to right? As a shareholder you just wanted to be a part of the share price increasing and thought "Why the hell not -it's for my future"..Exceeppppttt..had you known, as a current or previous shareholder who was told that everything is great, perhaps you wouldn't have invested money into Molina. Maybe you would have wanted to invest in a different company - better yet, maybe you would have put it in a bank acct and sat on it for a rainy day or paid sone studd off just in case your job was in peril. You didn't though you invested in a company you worked for that you were told over and over via leaders that all was peachy. If everything was so peachy then why did u lose your job? Or why are yoy terrified you may lose it now if all is puppies and kittens at Molina? Little misleading right? I would feel MISLEAD not only as an employee but a shareholder. How can a company be doing so well and yet shedding employees left and right. I wouldnt invest in a company thats in the process of that. Would you? Weird, no mention of it in the past 3 earnings calls (check the transcripts on Google if you doubt me). There is alot of mentioning of membership being down due to better job market on those calls - markets are cyclical in that they tend to repeat themselves. Sure jobs are up - we forget about that rate cut a week or two ago that sent the markets reeling? Don't believe me? Look up the S&P 500 and every other US market and how they are in real real danger.Its called a market selloff - people are shedding common stocks in companies and starting to stash it in gold (myself included). Why do u think Gold has been hitting new highs weekly? Its called a recession folks and with recessions come job cuts in which comes the need for companies like Molina bc you no longer have health insurance. It only takea a few months for the markets to get that even worse ripple effect of that damn rate cut. In which Molina will more than likelybget caught with pants down - needing employees due to increasing membership.
Either way all of this affected you in a major way not as only an employee but as shareholder. Kind if feel lied to...or even mislead. Oh, did I mention that it is against the law to do that - mislead shareholders. Yeah, 17 CFR 240.14 sub. a-9 takes care of that in the legal world. Feel free to have a read below and when done maybe u get ahold the SEC amd file a complaint and even the BBB. Your not a customer so why the BBB - true as an employee or ex-employee on the daily your don't fit the bill for the term "customer", but you sure fit awful pretty in that term as a shareholder. No company likes negative attention on them for other prospects be it members or even possible buyers. Would you want to buy a company like that? Would you want to sign up for their services if needed seeing how they treated the employees who believed so much in a company that they invested in it. The CFPB or Consumer Financial Protection Bureau is another agency you dont want to keep lonely as they loovveee hearing and investigating companies with unfair business practices because like it or not at the end of the day employee or not thebbn purchasing of a companies shares is a business transaction.
17 CFR § 240.14a-9 - False or misleading statements.
§ 240.14a-9 False or misleading statements.
(a) No solicitation subject to this regulation shall be made by means of any proxy statement, form of proxy, notice of meeting or other communication, written or oral, containing any statement which, at the time and in the light of the circumstances under which it is made, is false or misleading with respect to any material fact, or which omits to state any material fact necessary in order to make the statements therein not false or misleading or necessary to correct any statement in any earlier communication with respect to thesolicitation of a proxy for the same meeting or subject matter which has become false or misleading.
(b) The fact that a proxy statement, form of proxy or other solicitingmaterial has been filed with or examined by the Commission shall not be deemed a finding by the Commission that such material is accurate or complete or not false or misleading, or that the Commission has passed upon the merits of or approved any statement contained therein or any matter to be acted upon by security holders. No representation contrary to the foregoing shall be made.
(c) No nominee, nominating shareholder or nominating shareholder group, or any member thereof, shall cause to be included in a registrant'sproxy materials, either pursuant to the Federal proxy rules, an applicable state or foreign law provision, or aregistrant's governing documents as they relate to including shareholder nominees for director in a registrant'sproxy materials, include in a notice on Schedule 14N (§ 240.14n-101), or include in any other related communication, any statement which, at the time and in the light of the circumstances under which it is made, is false or misleading with respect to any material fact, or which omits to state any material fact necessary in order to make the statements therein not false or misleading or necessary to correct any statement in any earlier communication with respect to asolicitation for the same meeting or subject matter which has become false or misleading.