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WellPoint, Inc. Summary: According to a press release dated March 18, 2008, the complaint charges WellPoint and certain of its officers and directors with violations of the Securities Exchange Act of 1934. WellPoint describes itself as the largest health benefits company in terms of commercial membership in the United States. The complaint alleges that during the Class Period, defendants made false and misleading statements and failed to disclose material facts concerning WellPoint’s medical costs and medical enrollment levels. In addition, the complaint alleges that defendants misled the market by issuing false and misleading earnings guidance. When defendants disclosed the truth to the market on March 10, 2008, the price of WellPoint’s common stock dropped 28.3% to close at $47.26 per share, on volume of more than 54 million shares traded, many times the average daily trading volume for WellPoint common stock.
INDUSTRY CLASSIFICATION:
SIC Code: 6324
Sector: Financial
Industry: Insurance (Accident & Health)
| COMPANY/ISSUER NAME: | WellPoint, Inc. |
| COMPANY/ISSUER TICKER: | WLP |
| COMPANY WEBSITE: | http://www.wellpoint.com |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| Dorothy Wade, et al. v. WellPoint, Inc., et al. | |||||||||||||||||
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| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Complaint for Violation of the Federal Securities Laws - Jury Trial Demanded | |||
| Type: Complaint | Date on the document: 03/18/2008 | ||
| US District Court Civil Docket | |||
| Type: Docket | Date on the document: 5/8/2008 | ||
| OTHER DOCUMENTS | |||
| Class Action Complaint-Jury Trial Demanded | |||
| Case Name and/or Number: Donald W. Clement, et al. v. WellPoint, Inc., et al. | |||
| Type: Complaint | Date on the document: 4/22/2008 | ||
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