CIGNA CORPORATION Shareholder Alert: Former SEC Attorney Willie Briscoe & Powers Taylor Investigate Possible Breaches of Fidu...
10 February 2016 - 4:48AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the
securities litigation firm of Powers Taylor LLP announce that a
federal class action lawsuit has been filed against Cigna
Corporation (“Cigna”) (NYSE: CI) and several officers and directors
for acts taken during the period of February 27, 2014 and January
21, 2016 (the “Class Period”).
Based upon the allegations in the class action, the firms are
investigating additional legal claims against the officers and
Board of Directors of Cigna. If you are an affected Cigna
shareholder and want to learn more about the lawsuit or join the
action, contact Willie Briscoe at The Briscoe Law Firm, PLLC via
email at shareholders@thebriscoelawfirm.com, Patrick Powers at
Powers Taylor LLP via email at shareholder@powerstaylor.com, or
call toll free at (877) 728-9607. There is no cost or fee to
you.
According to the complaint, the defendants are alleged to have
violated certain provisions of the Securities Exchange Act of 1934.
Specifically, the complaint alleges, among other things, that
defendants issued materially false and misleading statements and/or
failed to disclose that: (i) its appeals and grievances procedures
were not in compliance with federal standards; (ii) its
noncompliance with federal standards posed a serious threat to the
health and safety of Medicare beneficiaries; and (iii) as a result
of the foregoing, its public statements were materially false and
misleading at all relevant times. On January 22, 2016, Cigna filed
a Form 8-K with the SEC, disclosing reporting that new enrollment
in the company’s Medicare Advantage Health Plans for seniors and
standalone Medicare prescription has been suspended by the federal
government, citing noncompliance in Cigna's appeals and grievances
procedures. Cigna stock dropped significantly immediately following
this announcement.
The Briscoe Law Firm, PLLC is a full service business
litigation, commercial transaction, and public advocacy firm with
more than 20 years of experience in complex litigation and
transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles
a variety of complex business litigation matters, including claims
of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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version on businesswire.com: http://www.businesswire.com/news/home/20160209006439/en/
The Briscoe Law Firm, PLLCWillie Briscoe,
877-728-9607shareholders@thebriscoelawfirm.comorPowers Taylor
LLPPatrick Powers, 877-728-9607shareholder@powerstaylor.com
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