Globe Newswire 14-Jun-2018 7:43 PM
NEW YORK, June 14, 2018 (GLOBE NEWSWIRE) -- 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 Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Akers Biosciences lawsuit, please go to https://bespc.com/unum/. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.
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