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Humana, Inc. Summary: According to a press release dated March 24, 2008, the complaint charges Humana and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The Company provides various health and supplemental benefit plans for employer groups, government benefit programs, and individuals in the United States.
According to the complaint, during the Class Period, defendants issued materially false and misleading statements concerning the Company’s anticipated earnings per share (“EPS”) for the first quarter of 2008 and full year 2008. As alleged in the complaint, these statements were materially false misleading because defendants failed to disclose: (i) that the Company was unable to properly calculate the prescription drug costs of its newly acquired members; (ii) that the Company’s costs associated with its prescription drug plans had dramatically increased; and (iii) that as a result of the foregoing, defendants’ statements concerning the Company’s anticipated EPS for the first quarter of 2008 and full year 2008 were lacking in a reasonable basis at all relevant times and were therefore materially false and misleading.
On March 12, 2008, the Company announced that it would be revising its earnings estimates because of, among other things, increased costs that it was experiencing with the Company’s prescription drug plans. Following this announcement, shares of Humana stock fell $6.50 per share, or approximately 13.7%, to close at $40.88 per share.
INDUSTRY CLASSIFICATION:
SIC Code: 6324
Sector: Financial
Industry: Insurance (Accident & Health)
| COMPANY/ISSUER NAME: | Humana, Inc. |
| COMPANY/ISSUER TICKER: | HUM |
| COMPANY WEBSITE: | http://www.humana.com |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| Dominic Capuano, et al. v. Humana, Inc., et al. | |||||||||||||||||
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| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Class Action Complaint for Violation of the Federal Securities Laws - Demand for Jury Trial | |||
| Type: Complaint | Date on the document: 03/24/2008 | ||
| US District Court Civil Docket | |||
| Type: Docket | Date on the document: 5/5/2008 | ||
| OTHER DOCUMENTS | |||
| Class Action Complaint - Jury Trial Demanded | |||
| Case Name and/or Number: Robert L. Lach, Trustee, et al. v. Humana, Inc., et al. | |||
| Type: Complaint | Date on the document: 4/4/2008 | ||
| Class Action Complaint - Jury Trial Demanded | |||
| Case Name and/or Number: Vincent DiRusso, et al. v. Humana, Inc., et al. | |||
| Type: Complaint | Date on the document: 4/8/2008 | ||
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