According to the law firm press release, Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. The Company distributes its products and services through insurance brokers and insurance consultants or directly to employers, unions, and other groups, as well as through the direct response television and the Internet.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Cigna’s appeals and grievances procedures were not in compliance with federal standards; (ii) Cigna’s noncompliance with federal standards posed a serious threat to the health and safety of Medicare beneficiaries; and (iii) as a result of the foregoing, Cigna’s public statements were materially false and misleading at all relevant times.

On May 17, 2016, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated complaint on August 1. A second amended complaint was filed on November 30.

On September 28, 2017, the Court issued an Order granting Defendants' Motion to Dismiss with prejudice. On October 27, a Notice of Appeal of this decision was filed. On March 26, 2019, the Court of Appeals affirmed the decision of the District Court.