On or around 06/14/2019 (Ongoing date of last review)
Filing Date: May 08, 2019
According to the Complaint, WellCare Health Plans, Inc. focuses primarily on providing government-sponsored managed care services to families, children, seniors, and individuals with complex medical needs primarily through Medicaid, Medicare Advantage, and Medicare Prescription Drug Plans, as well as individuals in the Health Insurance Marketplace.
This action stems from a proposed transaction announced on March 27, 2019, pursuant to which WellCare will be acquired by Centene Corporation. Pursuant to the terms of the Merger Agreement, WellCare’s stockholders will receive 3.38 shares of Parent and $120.00 in cash for each share of WellCare common stock they own.
On May 3, 2019, Defendants filed a Registration Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.
This case was voluntarily dismissed on July 1, 2019. A related case continutes under Docket 19-CV-00873.
Company & Securities Information
Defendant: WellCare Health Plans, Inc.
Industry: Insurance (Accident & Health)
Headquarters: United States
Ticker Symbol: WCG
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Michael Kent, et al. v. WellCare Health Plans, Inc., et al.