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.