October 10, 2016 (Shareholders Foundation) - An investigation on behalf of investors in shares of Centene Corp (NYSE:CNC) was announced over potential breaches of fiduciary duties by certain officers and directors at Centene Corp.

The investigation by a law firm concerns whether certain Centene directors breached their fiduciary duties and caused damage to the company and its shareholders.

On March 24, 2016, Centene Corp announced the acquisition of Health Net, Inc. (Health Net), a health care insurance provider.

According to the investigation Centene Corp assured investors in the months following the acquisition of Health Net that there had been no negative developments in the Health Net medical reserves.
Then on July 26, 2016, Centene Corp announced that, we did increase reserves for medical claims primarily associated with disputed substance abuse treatment center costs. Additionally, we recorded premium deficiency reserves primarily associated with Arizona and the California individual PPO business.

Shares of Centene Corp (NYSE:CNC) declined to as low as $63.4 per share on July 26, 2016.

On September 10, 2016, NYSE:CNC shares closed at $
per share.