AUGUST 13 DEADLINE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Unum Group and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / August 12, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Unum Group (“Unum” or the “Company”) (NYSE: UNM) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. On May 1, 2018, Unum issued a press release titled, “Unum Group& Reports First Quarter 2018 Results,” which included the fact that the loss ratio for the Company’s long-term care division was 96.6% in the first quarter of 2018, as opposed to 88.6% for the first quarter of 2017. On May 2, 2018, Unum’s Chief Financial Officer, John F. McGarry, stated, “benefits experience this quarter was driven by new claim incidence that ran much higher than expected,” adding that “the higher loss ratio this quarter was negatively impacted by a lower level of policy terminations.” McGarry also said, “we continue to experience a high level of volatility in this line and expect it will continue in the future.” Based on the press release and subsequent call, Unum’s share price fell 16.95%, or $8.12 per share, to close at $39.78 on May 2, 2018.
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We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
SOURCE: The Schall Law Firm