SAN DIEGO & CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP reminds shareholders that purchasers of Unum Group (NYSE: UNM) filed a class action complaint against the company's officers and directors for alleged violations of the Securities Exchange Act of 1934 between January 31, 2018 and May 2, 2018. Unum, together with its subsidiaries, provides financial protection benefit solutions in the United States, the United Kingdom, and internationally.
View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/unum-group-july-2018/
Unum Accused of Making False Statements About Its Long-Term Care Reserves
According to the complaint, Unum failed to disclose that the company was experiencing higher claims incidence and less favorable policy terminations in connection with its long-term care business. On this news, Unum's stock fell nearly 17% to close at $39.78 per share on May 2, 2018, and has yet to recover its lost value.
Unum Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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