The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court Eastern District of Tennessee on behalf of investors who purchased Unum Group (NYSE: UNM) securities between October 27, 2018 and May 1, 2018.
According to the UNM lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose 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.
If you suffered a loss in Unum Group you have until August 13, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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