Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Aetna Inc. (AET)

NEW YORK, Jan. 26, 2017 -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Aetna Inc. (“Aetna” or the “Company”) (NYSE:AET) in the United States District Court for the District of Connecticut on behalf of persons or entities who purchased or otherwise acquired Aetna stock between August 15, 2016 through January 20, 2017, inclusive (the “Class Period”), seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Aetna and its senior executives attempted to leverage Aetna’s participation in the Public Exchanges for favorable treatment from regulators regarding the Humana acquisition; (2) Aetna 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 Aetna; 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.

If you wish to serve as lead plaintiff, you must move the Court no later than March 27, 2017.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].

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