Elevance Health Surges to 103rd in Trading Volume with 12.29 Billion Turnover Amid Securities Fraud Lawsuit

On May 30, 2025, Elevance Health (ELV) saw a significant surge in trading volume, with a turnover of 12.29 billion, marking a 98.92% increase from the previous day. This substantial rise placed Elevance Health at the 103rd position in terms of trading volume for the day. Additionally, the stock price of Elevance Health has been on an upward trajectory, rising by 0.87% and marking its fourth consecutive day of gains, with a total increase of 3.11% over the past four days.

Elevance Health, Inc. is currently facing a securities fraud class action lawsuit filed by the law firm Bleichmar Fonti & Auld LLP. The lawsuit alleges that the company and certain of its senior executives violated federal securities laws. The complaint, filed in the U.S. District Court for the Southern District of Indiana, asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Elevance common stock.

The lawsuit centers around Elevance Health's representation of its Medicaid business during the COVID-19 pandemic. The federal government paused the review of Medicaid eligibility during this period, which resumed in 2023. Elevance Health claimed it was closely monitoring cost trends and negotiating sufficient rates to address the risk profiles of Medicaid members. However, the lawsuit alleges that the redetermination process led to a significant increase in the acuity and utilization of Elevance’s Medicaid members, which was not reflected in the company's rate negotiations or financial guidance for 2024.

Investors who purchased Elevance Health common stock are encouraged to obtain additional information and submit their information to the law firm. The deadline for investors to ask the court to be appointed to lead the case is July 11, 2025. The firm is representing plaintiffs on a contingency fee basis, meaning there is no cost to investors, and shareholders are not responsible for any court costs or expenses of litigation.