The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Unum Group (NYSE: UNM) who purchased shares between October 27, 2016 and May 1, 2018. The action, which was filed in the United States District Court Eastern District of Tennessee, alleges that the Company violated federal securities laws.
In particular, the UNM lawsuit alleges that (i) the Company was experiencing a higher claims incidence for its long-term care business; (ii) the Company was experiencing less favorable policy terminations in connection with its long-term care business; (iii) the Company had grossly miscalculated the actuarial assumptions underlying its long-term care business; (iv) premium price hikes could not sustainably offset increasing losses related to the Companyâ€™s long-term care business; (v) the Company was subject to a much greater risk of catastrophic losses and major reserve charges than represented to investors; and (vi) as a result of the foregoing, the Company would not be able to maintain its long-term care interest adjusted loss ratio in the 85% to 90% range.
Shareholders have until August 13, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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