An investor in NYSE:CI shares filed a lawsuit in the U.S. District Court for the District of Connecticut against CIGNA over alleged violations of Federal Securities Laws.
Investors who purchased shares of CIGNA Corporation (NYSE:CI) have certain options and for certain investors are short and strict deadlines running. Deadline: April 6, 2016. NYSE:CI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff claims that between February 27, 2014 and January 21, 2016 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 February 29, 2016, NYSE:CI shares closed at $139.61 per share.
Those who purchased NYSE:CI shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com