Coventry Health Care, Inc. Investor Alert: Lawsuit
Lawsuit on behalf of certain investors in Coventry Health Care, Inc. (Public, NYSE:CVH) over alleged securities laws violations by Coventry and others – Contact the Shareholders Foundation, Inc at: mail@shareholdersfoundation.com
An investor in Coventry Health Care, Inc. (Public, NYSE:CVH) has filed a lawsuit in the United States District Court for the District of Maryland on behalf of purchasers of the common stock of Coventry Health Care, Inc. (NYSE:CVH) between February 9, 2007 and October 22, 2008, over alleged violations of Federal Securities Laws. Meanwhile an investigation on behalf of current long term CVH investors was announced.
If you are a current long term investor in common stock of Coventry Health Care, Inc. (NYSE:CVH) and / or purchased CVH stock between February 9, 2007 and October 22, 2008, you have certain options and you should contact the Shareholders Foundation, Inc at:
According to the complaint the plaintiff alleges Coventry and certain of its executives with violations of the Exchange Act. Issuing between February 9, 2007 and October 22, 2008 numerous positive statements regarding Coventry Health Care’s financial condition, business and prospects, that were materially false and misleading because defendants failed to disclose adverse facts. Then on October 21, 2008, Coventry Health Care issued a press release announcing its financial results for its third quarter of 2008, the period ended September 30, 2008. In response to this announcement, the price of Coventry Health Care common stock declined from $28.49 per share to $13.93 per share, or more than 51%, on very heavy trading volume.
Coventry Health Care, Inc., located in Bethesda, MD, is a diversified national managed healthcare company based in Bethesda, Maryland, operating health plans, insurance companies, network rental and workers’ compensation services companies.
Coventry Health Care, Inc reported in 2007 Total Revenue of $9.87953billion with a Net Income of $626.09million and in 2008 Total Revenue of $11.91365billion with a Net Income of $381.89million. Shares of Coventry Health Care, Inc (NYSE: CVH) traded recently at $22.85 per share, down from a 52weekHigh of $36.22 per share and over $61 per share in 2008 and 2007.
Those who are current long term investors in common stock of Coventry Health Care, Inc. (NYSE:CVH) and / or purchased CVH stock between February 9, 2007 and October 22, 2008, have certain options and should contact the Shareholders Foundation, Inc at:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739 mail@shareholdersfoundation.com www.ShareholdersFoundation.com
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Advertising. The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
