LOS ANGELES--(EON: Enhanced Online News)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the March 27, 2017 deadline to file a lead plaintiff motion in the class action filed by GPM on behalf of a class (the “Class”) of investors who purchased Aetna Inc. (“Aetna” or the “Company”) (NYSE: AET) securities between August 15, 2016 and January 20, 2017, inclusive (the “Class Period”). Aetna investors have until March 27, 2017 to file a lead plaintiff motion.
In August of 2016, Aetna announced to investors that it expected a merger with Humana, another health insurance provider, to be completed by the end of the year. The proposed merger however was challenged by federal regulators as anticompetitive.
The Complaint filed in this class action lawsuit alleges that throughout the class period, Aetna made false and/or misleading statements regarding its participation in public health insurance exchanges: (1) Aetna and its senior executives attempted to leverage Aetna's participation in the Public Exchanges for favorable treatment from regulators regarding the Humana acquisition; (2) Aetna 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 Aetna; 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.
If you purchased or otherwise acquired Aetna during the Class Period you may move the Court no later than March 27, 2017 to request appointment as lead plaintiff. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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