WellCare Securities Litigation

Welcome to the WellCare Securities Litigation Website

On June 3, 2013, pursuant to the Order Approving Distribution Plan (the "Distribution Order"), payments were made to all Authorized Claimants who were eligible to receive a payment of at least $10.00 from the distribution. Pursuant to the Distribution Order, Authorized Claimants whose distribution amounts were less than the $10.00 payment threshold will not receive a payment from the distribution.

The WellCare securities class action (the "Action") was commenced in October 2007. In March 2008, the Court appointed the New Mexico State Investment Council, the Public Employees Retirement Association of New Mexico, the Teachers' Retirement System of Louisiana, the Policemen's Annuity and Benefit Fund of Chicago, and the Public School Teachers' Pension and Retirement Fund of Chicago as Lead Plaintiffs and appointed the law firms of Bernstein Litowitz Berger & Grossmann LLP and Labaton Sucharow LLP as Lead Counsel.

The Lead Plaintiffs have reached a proposed settlement of the Action for a face amount of at least $200,000,000, consisting of (a) $52,500,000 in cash, plus interest as it accrues, (b) a $35,000,000 non-interest bearing promissory note due and payable in cash no later than July 31, 2011 ("WellCare Note"), and (c) $112,500,000 in freely tradable, registration-exempt bonds with a maturity date of December 31, 2016, and with a fixed coupon of 6% (the "Bonds"). The proposed settlement, if approved by the Court, will resolve all claims in the Action.

Please be advised that your rights may be affected by the settlement of this class action lawsuit if, during the period between February 14, 2005 through 10:59 a.m. Eastern Standard Time on October 24, 2007, inclusive, you purchased or otherwise acquired the common stock of WellCare, Inc.

Please be sure to review the Notice to fully understand your rights.

  • The Exclusion Filing Deadline was April 13, 2011
  • The Objection Filing Deadline was April 13, 2011
  • The Notice of Intention to Appear at Hearing Deadline was April 13, 2011
  • The Claim Filing Deadline was June 4, 2011
  • The Settlement Fairness Hearing was held on May 4, 2011 at 10:00 a.m.