Bernstein Litowitz Berger & Grossmann LLP Announce a Notice of Pendency and Proposed Settlement of Class Action Involving Persons and Entities Who Purchased the Centene Corporation Common Stock from May 24, 2016 through July 25, 2016

Bernstein Litowitz Berger & Grossmann LLP:

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF MISSOURI
EASTERN DIVISION

ISRAEL SANCHEZ, Individually and On Behalf of All Others Similarly Situated,

Case No. 4:17-cv-00806-AGF

 

 

Plaintiff,

 

 

 

v.

 

CENTENE CORP., MICHAEL F. NEIDORFF,

and JEFFREY A. SCHWANEKE,

 

Defendants.

SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING; AND (III) MOTION FOR ATTORNEYS’ FEES AND LITIGATION EXPENSES

This notice is for all persons and entities who purchased the common stock of Centene Corporation (“Centene”) during the period from May 24, 2016 through July 25, 2016, inclusive, and who were damaged thereby (the “Settlement Class”).

Certain persons and entities are excluded from the Settlement Class by definition as set forth in the full Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses (the “Notice”), available at www.CenteneSecuritiesLitigation.com.

PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS MAY BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Eastern District of Missouri (the “Court”), that the above-captioned litigation (the “Action”) is pending in the Court.

YOU ARE ALSO NOTIFIED that Lead Plaintiff in the Action has reached a proposed settlement of the Action for $7,500,000 in cash (the “Settlement”), that, if approved, will resolve all claims in the Action.

A hearing will be held on October 26, 2020 at 10:00 a.m., before the Honorable Audrey G. Fleissig at the United States District Court for the Eastern District of Missouri, Courtroom 12 South, Thomas F. Eagleton U.S. Courthouse, 111 South 10th Street, St. Louis, MO 63102, to determine whether: (i) the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) for purposes of the proposed Settlement only, the Action should be certified as a class action on behalf of the Settlement Class, Lead Plaintiff should be certified as Class Representative for the Settlement Class, and Lead Counsel should be appointed as Class Counsel for the Settlement Class; (iii) the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated March 5, 2020 (and in the Notice) should be granted; (iv) the proposed Plan of Allocation should be approved as fair and reasonable; and (v) Lead Counsel’s application for an award of attorneys’ fees and expenses should be approved.