On or around 04/20/2017 (Other)
Filing Date: January 25, 2017
According to the law firm press release, the Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company and its senior executives attempted to leverage Aetna's participation in the Public Exchanges for favorable treatment from regulators regarding the Humana acquisition; (2) the Company threatened to limit its participation in public health insurance exchanges if the Department of Justice ("DOJ") attempted to block the merger; (3) Aetna did not withdraw from certain public health insurance exchanges for business reasons as Defendants claimed, but to follow through on its threat of leaving the marketplace once the DOJ filed suit and to improve its litigation position; (4) Aetna withdrew from public health insurance exchanges that were profitable for the Company; and (5) as a result of the foregoing, Defendants' statements about Aetna's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
This case was voluntarily dismissed on April 18, 2017.
Company & Securities Information
Defendant: Aetna Inc.
Industry: Insurance (Accident & Health)
Headquarters: United States
Ticker Symbol: AET
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Westchester Putnam Counties Heavy & Highway Laborers Local 60 Benefit Funds, et al. v. Aetna Inc., et al.