An investigation on behalf of current long term investors in CIGNA Corporation (NYSE:CI) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE:CI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/11/2016 -- An investigation was announced for stockholders of CIGNA Corporation (NYSE:CI) concerning potential breaches of fiduciary duties by certain directors and officers of CIGNA was announced.
Investors who are current long term investors in CIGNA Corporation (NYSE:CI) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE:CI stocks follows a lawsuit filed recently against CIGNA Corporation over alleged securities laws violations. The investigation on behalf of current long term investors in CIGNA stocks, concerns whether certain CIGNA directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the District of Connecticut the plaintiff alleges that the Defendants made allegedly false and/or misleading statements and/or failed to disclose that Cigna's appeals and grievances procedures were not in compliance with federal standards, that Cigna's noncompliance with federal standards posed a serious threat to the health and safety of Medicare beneficiaries, and that as a result of the foregoing, Cigna's public statements were materially false and misleading at all relevant times.
On January 22, 2016, CIGNA Corporation announced that on January 21, 2016 it was notified by the Centers for Medicare & Medicaid Services ("CMS") of its intent to impose intermediate sanctions suspending the enrollment of and marketing to new customers of all Cigna Medicare Advantage and Standalone Prescription Drug Plan Contracts.
On May 9, 2016, NYSE:CI shares closed at $131.38 per share.
Those who purchased shares of CIGNA Corporation have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego