Robbins LLP reminds shareholders

SAN DIEGO, June 11, 2024 (GLOBE NEWSWIRE) — ROBBINS LIMITED reminds investors that a shareholder has filed a class action lawsuit on behalf of individuals and entities that purchased or otherwise acquired Humana, Inc. common stock. (NYSE: HUM) from July 27, 2022 to January 24, 2024. Humana is a health insurance company that provides medical benefit plans to approximately 17 million members.

For more information, please submit form, e-mail lawyer Aaron Dumas Jr. or call us at (800) 350-6003.

Charges: Robbins LLP is investigating allegations that Humana, Inc. (HUM) misled investors about its business prospects

According to the complaint, defendants downplayed pressure on the Company’s adjusted EPS from increased medical costs related to pent-up demand for medical procedures (particularly as concerns about Covid-19 subside), which, contrary to the Company’s representations, resulted in increased utilization rates and costs.

The plaintiff alleges that on January 18, 2024, Humana preliminarily released its fourth quarter and full-year 2023 financial results and shocked investors by revealing that its benefit expense ratio increased to approximately 91.4% for the fourth quarter of 2023 and approximately 88 % for full year 2023. As a result, the Company’s 2023 adjusted EPS was just $26.09 per share, which was more than $2 per share less than the Company’s forecast in November 2023. In response to this announcement, the price of Humana’s common stock declined by $35.78 per share, or approximately 8%, from a close of $447.76 per share on January 17, 2024 to $411.98 per share on January 18, 2024.

Then, on January 25, 2024, the company further shocked the market by announcing a loss for the fourth quarter of 2023, stating that it expected higher levels of medical costs to continue throughout 2024. As a result, Humana revealed that it expected adjusted EPS for 2024 at just $16 per share (down $10 per share from 2023 and well below analyst expectations of $29 per share). On this news, the price of Humana common stock fell an additional $47.04 per share, or nearly 12%, from a close of $402.40 per share on January 24, 2024 to a close of $355.36 per share action on January 25, 2024.

What now: You may be eligible to participate in a class action lawsuit against Humana, Inc. Shareholders who wish to serve as lead plaintiff on the class must file their motions with the court by August 2, 2024. A lead plaintiff is a representative party acting pursuant to s. on behalf of other class members in managing the litigation. You do not have to be involved in the case to qualify for recovery. If you choose to take no action, you may remain an absent member of the class. For more information, click Here.

All representation is on a contingency fee basis. Shareholders do not incur any fees or expenses.

About Robbins LLP: Some law firms issuing notices on this matter do not actually pursue securities class actions; Robbins LLP does. A recognized leader in shareholder, attorney and employee rights litigation ROBBINS LIMITED Since 2002, our goal has been to help shareholders recover losses, improve corporate governance structures and hold executives accountable for their misconduct. Since our inception, we have raised over $1 billion for shareholders.

To be notified if a class action lawsuit against Humana, Inc. is settled. or receive free notifications in the event that company management engages in misconduct, register on the website Stock watch Today.

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