San Diego, CA -- (SBWIRE) -- 10/19/2016 -- An investigation on behalf of investors in shares of Humana Inc (NYSE:HUM) was announced over potential breaches of fiduciary duties by certain directors at Humana Inc.
Investors who purchased shares of Humana Inc (NYSE:HUM) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain Humana directors breached their fiduciary duties and caused damage to the company and its shareholders.
Humana Inc reported that its annual Total Revenue rose from $48.5 billion in 2014 to over $54.28 billion in 2015 and that its respective Net Income increased from over $1.14 billion to over $1.27 billion. Shares of Humana Inc (NYSE:HUM) grew from $28.98 per share in July 2009 to as high as $$214.65 per share in May 2015.
According to the Centers for Medicare and Medicaid Services, the percentage of Humana Inc's membership in four-stars-rated plans or higher fell to roughly 37% in July from 78% the previous year.
On October 12, 2016, Humana Inc advised investors that the downgrade of its Medicare star-quality rating could lower its federal reimbursements. Humana Inc stated that it will try "to mitigate any potential negative impact of these published ratings on star bonus revenues for 2018," including seeking reconsideration of certain ratings, and that Humana Inc believes the decline stems from a recently finished program audit by the Centers for Medicare and Medicaid Services.
Shares of Humana Inc (NYSE:HUM) declined on October 12, 2016, to as low as $163.50 per share.
On October 18, 2014, NYSE:HUM shares closed at $173.27 per share.
Those who purchased shares of Humana Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego