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Shareholder Class Action Filed Against WellPoint, Inc. by the Law Firm of Schiffrin Barroway Topaz & Kessler, LLP
Date:4/22/2008

RADNOR, Pa., April 22 /PRNewswire/ -- The following statement was issued today by the law firm of Schiffrin Barroway Topaz & Kessler, LLP:

Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Southern District of Indiana on behalf of all purchasers of securities of WellPoint, Inc. (NYSE: WLP) ("WellPoint" or the "Company") from January 23, 2008 through March 10, 2008, inclusive (the "Class Period").

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin Barroway Topaz & Kessler, LLP (Darren J. Check, Esq. or Richard A. Maniskas, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@sbtklaw.com.

The Complaint charges WellPoint and certain of its officers and directors with violations of the Securities Exchange Act of 1934. WellPoint is the largest health benefits company in terms of commercial membership in the United States. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company's medical costs were rising drastically, while at the same time the Company's reserves for medical costs were understated; (2) that the Company's growth in enrollment was in the less profitable sectors, such as self-funded members and products, and that the Company was not achieving sufficient new enrollment of Fully Insured Members; (3) that the Company's geographic diversity was not able to neutralize the adverse economic factors affecting the Company; (4) that the
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SOURCE Schiffrin Barroway Topaz & Kessler, LLP
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