The Court hearing on the fairness of Settlement and related matters which is scheduled for October 26, 2020, at 10:00 a.m. Central time will be conducted by Zoom videoconference.
Any Settlement Class Member who wishes to participate in the hearing by videoconference may do so by contacting Lead Counsel at JonathanU@blbglaw.com to obtain the access information.
Any Settlement Class Member or member of the public who wishes to listen to the hearing by audio only may do so by calling: 1-669-254-5252 and entering the meeting ID 161 444 0464.
The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing: And (III) Motion For Attorney's Fees and Litigation Expenses. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action and Settlement
The Notice relates to a proposed settlement of claims in a pending securities class action brought by investors alleging, among other things, that Centene and certain of its officers, Michael F. Neidorff and Jeffrey A. Schwaneke (collectively, the “Individual Defendants,” and, together with Centene, “Defendants”) violated the federal securities laws by making false and misleading statements concerning Centene’s merger with Health Net, Inc. A more detailed description of the Action is set forth in paragraphs 11-19 of the Notice. The proposed Settlement, if approved by the Court, will settle claims of the Settlement Class, as defined in paragraph 20 of the Notice.
Lead Plaintiff, on behalf of itself and the Settlement Class, has reached a proposed settlement of the Action for $7,500,000 in cash.
The Settlement Class consists of:
all persons and entities who purchased the common stock of Centene during the period from May 24, 2016 through July 25, 2016, inclusive (the “Class Period”) and who were damaged thereby.
Certain persons and entities are excluded from the Settlement Class by definition (see paragraph 20 of the Notice) or may request exclusion pursuant to the instructions set forth in the Notice (see paragraphs 69-72 of the Notice).
If you are a member of the Settlement Class, in order to be potentially eligible for a payment from the Settlement, you were required to submit a Claim Form with adequate supporting documentation postmarked no later than October 13, 2020.
Payments to eligible claimants will be made only after any appeals of the Settlement are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
|YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:
|SUBMIT A CLAIM FORM POSTMARKED NO LATER THAN OCTOBER 13, 2020.
||This is the only way to be eligible to receive a payment from the Settlement Fund. If you are a Settlement Class Member and you remain in the Settlement Class, you will be bound by the Settlement as approved by the Court and you will give up any Released Plaintiffs’ Claims (defined in paragraph 31 of the Notice) that you have against Defendants and the other Defendants’ Releasees (defined in paragraph 32 of the Notice), so it is in your interest to submit a Claim Form.
|EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION SO THAT IT IS RECEIVED NO LATER THAN OCTOBER 5, 2020.
||If you exclude yourself from the Settlement Class, you will not be eligible to receive any payment from the Settlement Fund. This is the only option that allows you ever to be part of any other lawsuit against any of the Defendants or the other Defendants’ Releasees concerning the Released Plaintiffs’ Claims.
|OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN OCTOBER 5, 2020.
||If you do not like the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and Litigation Expenses, you may write to the Court and explain why you do not like them. You cannot object to the Settlement, the Plan of Allocation, or the fee and expense request unless you are a Settlement Class Member and do not exclude yourself from the Settlement Class.
|PARTICIPATE IN A HEARING ON OCTOBER 26, 2020 AT 10:00 A.M. CENTRAL TIME, AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN OCTOBER 5, 2020.
||Filing a written objection and notice of intention to appear by October 5, 2020 allows you to speak in Court, at the discretion of the Court, about the fairness of the proposed Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and Litigation Expenses. If you submit a written objection, you may (but you do not have to) participate in the hearing and, at the discretion of the Court, speak to the Court about your objection. The Settlement Hearing will be conducted by videoconference. For details on how to participate or listen to the hearing, please see the top of this page.
||If you are a member of the Settlement Class and you do not submit a valid Claim Form or request for exclusion, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Settlement Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action.
How do I obtain more information?
More detailed information about the Action and the Settlement is contained in the Notice available on the top menu. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 1-888-964-0670; emailing info@CenteneSecuritiesLitigation.com; or mailing a letter to:
Centene Securities Litigation
c/o JND Legal Administration
P.O. Box 91364
Seattle, WA 98111
Inquiries should NOT be directed to the Court, the Clerk of the Court, Defendants, or their counsel.