A lawsuit was filed on behalf of investors in Unum Group (NYSE: UNM) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 06/27/2018 -- An investor, who purchased shares of Unum Group (NYSE: UNM), filed a lawsuit over alleged violations of Federal Securities Laws by Unum Group in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Unum Group (NYSE: UNM) have certain options and for certain investors are short and strict deadlines running. Deadline: August 13, 2018. NYSE: UNM investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
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.
On May 2, 2018, Unum Group held a conference call to discuss its first quarter 2018 financial results. On the call, John F. McGarry ("McGarry"), the Company's Chief Financial Officer ("CFO") elaborated on the Company's disclosures in the May 1, 2018 press release, stating "[b]enefits experience this quarter was driven by new claim incidence that ran much higher than expected" and "the higher loss ratio this quarter was negatively impacted by a lower level of policy terminations."
Those who purchased shares of Unum Group (NYSE: UNM) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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