Energy News / Shareholders Foundation, Inc.

NYSE: UNM Long Term Investor Alert: Investigation of Potential Wrongdoing at Unum Group

Via: ReleaseWire

Updated 3:26 PM CDT, Fri, August 02,2019

An investigation on behalf of current long term investors in Unum Group (NYSE: UNM) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE: UNM stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 08/02/2019 -- An investigation on behalf of current long-term investors in shares of Unum Group (NYSE: UNM) concerning potential breaches of fiduciary duties by certain directors and officers of Unum Group was announced.

Investors who are current long term investors in Unum Group (NYSE: UNM) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NYSE: UNM stocks follows a lawsuit filed against Unum Group over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: UNM stocks, concerns whether certain Unum Group directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Eastern District of Tennessee the plaintiff alleges that plaintiff alleges on behalf of purchasers of Unum Group (NYSE: UNM) that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between January 31, 2018 and May 2, 2018, the defendants failed to disclose that the Company was experiencing a higher claims incidence for its long-term care business, that the Company was experiencing less favorable policy terminations in connection with its long-term care business, that, as such, the Company's long-term care business loss ratio would reach the upper 90% range, and that, as a result of the foregoing, Defendants' statements about Unum's business, operations, and prospects, including statements related to the Company's long-term care reserves and capital management plans, were materially false and/or misleading and/or lacked a reasonable basis.

Chattanooga TN based Unum Group, together with its subsidiaries, provides financial protection benefit solutions in the United States, the United Kingdom, and internationally. Unum Group reported that its annual Total Revenue rose from over $11.28 billion in 2017 to over $11.59 billion in 2018 and that its Net Income decreased from $994.2 million in 2017 to $523.4 million in 2018.

Shares of Unum Group (NYSE: UNM) declined from $58.73 per share in early 2018 to as low as $28.02 per share in late 2018.

On August 1, 2019, NYSE: UNM shares closed at $29.91 per share.

Those who purchased shares of Unum Group (NYSE: UNM), 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

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

For more information on this press release visit:
http://www.sbwire.com/press-releases/nyse-unm-long-term-investor-alert-investigation-of-potential-wrongdoing-at-unum-group-1252917.htm

Media Relations Contact
Michael Daniels
1-858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com