Elevance Health Stock Plummets 2.91% Over Three Days Amid Lawsuits and Trading Volume Drop to 229th Rank

On June 17, 2025, Elevance Health (ELV) experienced a significant decline, with its trading volume dropping by 45.7% to 3.50 billion, ranking 229th in the day's market activity. The stock price fell by 0.41%, marking the third consecutive day of decline, with a total decrease of 2.91% over the past three days.

Elevance Health is currently facing multiple class action lawsuits from shareholders who have incurred losses. These lawsuits are primarily focused on the company's disclosure of increased utilization in Medicaid and elevated medical costs, which have negatively impacted its stock price. The class action period spans from April 18, 2024, to October 16, 2024, during which investors who purchased Elevance Health common stock may be eligible to participate in the lawsuit.

One of the key issues highlighted in the lawsuits is the company's failure to disclose that sicker patients with higher acuity tended to remain on Medicaid after redetermination, leading to higher per-patient costs. This increase in cost was not adequately reflected in Elevance's rate negotiations with the states or in its financial guidance for 2024, making the company's positive statements about its business, operations, and prospects materially misleading.

Investors who purchased Elevance Health common stock during the class period are encouraged to contact legal firms such as Glancy Prongay & Murray LLP to learn more about their rights and potential participation in the class action lawsuit. The deadline to file a lead plaintiff motion is July 11, 2025.