September 5, 2017 (Shareholders Foundation) - An investigation on behalf of investors of WellCare Health Plans, Inc. (NYSE:WCG) shares over potential securities laws violations by WellCare Health Plans, Inc. (NYSE:WCG and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of WellCare Health Plans, Inc. (NYSE:WCG) concerning whether a series of statements by WellCare Health Plans, Inc. (NYSE:WCG regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Tampa, FL based WellCare Health Plans, Inc. is a managed care company. WellCare Health Plans, Inc. repoted that its annual Total Revenue rose from over $13.89 billion in 2015 to over $14.23 billion in 2016 and that its Net Income increased from $118.6 million in 2015 to $242.1 million in 2016.

Shares of WellCare Health Plans, Inc. (NYSE:WCG) grew from $70.06 per share in February 2016 to as high as $184.88 per share in July 2017.

On August 18, 2017,an article was published, 'Pediatricians say Florida hurt sick kids to help big GOP donors', reporting that state health officials in Florida removed thousands of sick children from Children's Medical Services ('CMS'), a part of Florida Medicaid, and placed them on insurance plans owned by companies, including WellCare, that cumulatively donated millions of dollars to Florida Republican Party committees.

Shares of WellCare Health Plans, Inc. (NYSE:WCG) declined to $167.95 per share on August 23, 2017.