Sep. 9, 2009 (Marketwire) --

WEST HARTFORD, CT -- (Marketwire) -- 09/09/09 -- The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the District of Maryland on behalf of those who purchased the common stock of Coventry Health Care, Inc. ("Coventry" or the "Company") (NYSE: CVH) between February 9, 2007 and October 22, 2008, inclusive (the "Class Period").

The Complaint charges that Coventry and certain of its officers and directors violated federal securities laws by issuing misleading statements concerning the Company's financial condition and prospects. Specifically, defendants failed to disclose the following: (i) Coventry employed under-pricing strategies to create the appearance that its new Medicare Private-Fee-For-Service ("PFFS") initiative was capable of driving the high growth necessary to offset Coventry's contracting Commercial business; (ii) Coventry failed to disclose the true risks associated with its under-pricing strategies, including the fact that Coventry was generating new Medicare PFFS membership at the expense of profit margins; (iii) the negative effects of Coventry's under-pricing strategies were masked by improper claims assumptions that materially understated Coventry's healthcare claim expenses; and (iv) that Coventry's disclosure and internal controls representations were materially false and misleading.

On October 21, 2008, Coventry announced its financial results for its third quarter of 2008. On this news, Coventry common stock fell from $28.49 to $13.93 per share, or over 51%.

If you are a member of the class, you may, no later than November 2, 2009, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/coventryhealthcare/, or contact Izard Nobel LLP toll-free: (800) 797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.