SOURCE: Saxena White P.A.

January 25, 2017 17:00 ET

Saxena White P.A. Files Securities Fraud Class Action Against Aetna Inc.

BOCA RATON, FL--(Marketwired - January 25, 2017) - Saxena White P.A. has filed a securities fraud class action lawsuit in the United States District Court for the District of Connecticut against Aetna Inc. ("Aetna" or the "Company") (NYSE: AET) on behalf of investors who purchased or otherwise acquired the common stock of the Company during the period between August 15, 2016 and January 20, 2017, inclusive (the "Class Period").

Aetna is one of the largest health care benefits companies in the United States. Aetna offers medical, pharmacy benefit management services, dental, behavioral health and vision plans on both an insured basis and an employer-funded basis. On July 2, 2015, Aetna entered into a definitive agreement to acquire the health care benefit company Humana Inc. ("Humana").

The Complaint brings forth claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects.

Specifically, the Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company and its senior executives attempted to leverage Aetna's participation in the Public Exchanges for favorable treatment from regulators regarding the Humana acquisition; (2) the Company threatened to limit its participation in public health insurance exchanges if the Department of Justice ("DOJ") attempted to block the merger; (3) Aetna did not withdraw from certain public health insurance exchanges for business reasons as Defendants claimed, but to follow through on its threat of leaving the marketplace once the DOJ filed suit and to improve its litigation position; (4) Aetna withdrew from public health insurance exchanges that were profitable for the Company; and (5) as a result of the foregoing, Defendants' statements about Aetna's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

You may obtain a copy of the Complaint and join the class action at www.saxenawhite.com.

If you purchased Aetna stock between August 15, 2016 and January 20, 2017, inclusive, you may contact Lester Hooker (lhooker@saxenawhite.com) at Saxena White P.A. to discuss your rights and interests.

If you purchased Aetna common stock during the Class Period of August 15, 2016 through January 20, 2017, and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court by no later than March 27, 2017. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.

Saxena White P.A., with offices located in White Plains, New York and Boca Raton, Florida, concentrates its practice on prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.

Contact Information

  • Lester R. Hooker, Esq.
    lhooker@saxenawhite.com

    Saxena White P.A.
    5200 Town Center Circle, Suite 601
    Boca Raton, FL 33486
    Tel: (561) 206-6708
    Fax: (866) 290-1291
    www.saxenawhite.com

    Counsel for Plaintiff
    Jonathan P. Whitcomb
    Diserio Martin O'Connor & Castiglioni Llp
    5200 Town Center Circle, Suite 601
    One Atlantic Street
    Stamford, CT 06901
    Tel: (203) 569-1105
    Local Counsel for Plaintiff