Evolent Health, Inc.
|Company Name||Evolent Health, Inc.|
On May 29, 2019, Evolent announced that it had agreed to purchase a controlling interest in University Health Care, Inc., d/b/a/ Passport Health Plan (“Passport”), despite prior statements that acquiring health plans was not part of the Company’s strategic focus.
On this news, Evolent’s share price fell $4.14 per share, nearly 30%, to close at $10.01 per share on May 29, 2019, thereby injuring investors.
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