Cases
Unum Group (UNM)
Securities Class Action
Overview
Overview
- Date:
- 6/14/2018
- Company Name:
- Unum Group
- Stock Symbol:
- UNM
- Class Period:
- FROM 1/31/2018 TO 5/2/2018
- Status:
- Closed/Complete
- Court:
- U.S. District Court: District of Eastern Tennessee
NEW YORK, June 14, 2018 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Tennessee on behalf of all persons or entities who purchased or otherwise acquired Unum Group (NYSE: UNM) securities between January 31, 2018 and May 2, 2018 (the “Class Period”). Investors have until August 13, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Unum’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company was experiencing a higher claims incidence for its long-term care business; (2) that the Company was experiencing less favorable policy terminations in connection with its long-term care business; (3) that, as such, the Company’s long-term care business loss ratio would reach the upper 90% range; and (4) that, as a result of the foregoing, Defendants statements about Unum’s business, operations, and prospects, including statements related to the Company’s long-term care reserves and capital management plans, were materially false and/or misleading and/or lacked a reasonable basis. The complaint claims that when the truth was revealed to the market, investors suffered damages.
If you purchased Unum Group securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The complaint alleges that Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Unum’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company was experiencing a higher claims incidence for its long-term care business; (2) that the Company was experiencing less favorable policy terminations in connection with its long-term care business; (3) that, as such, the Company’s long-term care business loss ratio would reach the upper 90% range; and (4) that, as a result of the foregoing, Defendants statements about Unum’s business, operations, and prospects, including statements related to the Company’s long-term care reserves and capital management plans, were materially false and/or misleading and/or lacked a reasonable basis. The complaint claims that when the truth was revealed to the market, investors suffered damages.
If you purchased Unum Group securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.