Bull & Lifshitz Continues Class Action Against UNUMProvident Corp.

Bull & Lifshitz continue their pursuit of a securities class action lawsuit against UNUMProvident Corp., alleging violations of federal securities laws. The lawsuit claims that the company made false and misleading statements in press releases and SEC filings. The case affects shareholders who purchased UNUMProvident or UNUM shares during a specific period. Bull & Lifshitz are seeking to represent the class of eligible shareholders who can move for lead plaintiff status.

Key Takeaways:

• The lawsuit was filed on September 30, 1999, in the United States District Court for the District of Maine against UNUMProvident Corp. and certain officers and directors.
• The complaint alleges that defendants made false and misleading statements in press releases, filings with the Securities and Exchange Commission, including the Joint Proxy.
• The Class Period spans from February 4, 1998, to August 2, 1999, inclusive, affecting shareholders who purchased UNUMProvident, UNUM, or Provident shares.
• Shareholders issued UNUMProvident stock pursuant to the Joint Proxy are also eligible.
• Wechsler Harwood Halebian & Feffer LLP is representing the class and can be contacted for discussions on this action.

Statistics:

• The Class Period began on February 4, 1998, and ended on August 2, 1999.
• The lawsuit was filed on September 30, 1999.
• The lead plaintiff must be determined by November 30, 1999.

Sources:

• PR Newswire, "Bull & Lifshitz Continues Class Action Against UNUMProvident Corp. (NYSE: UNM) (formerly NYSE: PVT)", October 9, 1999.