Update on the Distribution of Net Settlement Funds
The Court has approved the distribution of the net settlement funds to eligible Court-approved Claimants who qualified for an award under the Plan of Allocation. A distribution of funds has occurred on the following date/s:
July 29, 2021
If you submitted a Claim in this case and have any questions related to that Claim, please contact the Claims Administrator whose contact information is listed here below:
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.
Lead Plaintiff, on behalf of itself and the Settlement Class, has settled 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 who requested exclusion pursuant to the instructions set forth in the Notice (see paragraphs 69-72 of the Notice).
On October 26, 2020, the Court held a hearing on approval of the Settlement and related matters and announced that it would approve the Settlement. On October 28, 2020, the Court entered a Judgment approving the Settlement and orders approving the proposed Plan of Allocation and awarding attorneys’ fees and litigation expenses.
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 the completion of all claims processing. Please be patient, as this process will take some time to complete.
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.