NEW YORK, NY / ACCESSWIRE / February 9, 2016 / Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC notifies investors of class action against Cigna Corp. ("Cigna" or "the Company") (NYSE: CI) and certain of its officers. The class action was filed in the United States District Court of the District of Connecticut on behalf of a class consisting of all persons or entities who purchased shares from February 27, 2014 through January 21, 2016, all dates inclusive (the "Class Period"). Such investors are advised to contact Peretz Bronstein or his investor relations analyst, Yael Hurwitz at [email protected] or 212-697-6484.
Cigna is a health services organization that provides insurance, products and services in the United States and internationally.
The Complaint alleges that throughout the Class Period Defendants made materially false and misleading statements regarding the Company's business, operational 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 January 22, 2016, pre-market, 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.
Following this news, Cigna stock fell from $140.13 per share on Thursday, January 21, 2016 to close at $135.85 per share on Monday, January 25, 2016, a two-day drop of $4.28.
No Class has yet been certified in the above action. If you wish to join this litigation you can visit the firm's website at: http://www.bgandg.com/#!ci/ba5nm. You may also contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Cigna you have until April 6, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC