An investor in NYSE:CI shares filed a lawsuit against certain Cigna Corporation directors over alleged breaches of fiduciary duties.
Investors who are current long term investors in CIGNA Corporation (NYSE:CI) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to current investors in NYSE:CI shares. The lawsuit against directors follows a lawsuit recently filed against CIGNA Corporation over alleged securities laws violations. The plaintiff in that lawsuit alleges that the Defendants made allegedly false and/or misleading statements and/or failed to disclose that Cigna’s appeals and grievances procedures were not in compliance with federal standards, that Cigna’s noncompliance with federal standards posed a serious threat to the health and safety of Medicare beneficiaries, and that as a result of the foregoing, Cigna’s public statements were materially false and misleading at all relevant times.
On January 22, 2016, CIGNA Corporation announced that on January 21, 2016 it was notified by the Centers for Medicare & Medicaid Services (“CMS”) of its intent to impose intermediate sanctions suspending the enrollment of and marketing to new customers of all Cigna Medicare Advantage and Standalone Prescription Drug Plan Contracts.
On May 27, 2016, NYSE:CI shares closed at $128.82 per share.
Those who purchased NYSE:CI shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego