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Wechsler Harwood Continues Class Action Against UNUMProvident Corp.

Strategic Insights

— 1 min read

Wechsler Harwood Halebian & Feffer LLP, along with Bull & Lifshitz, LLP, have continued their class action against UNUMProvident Corp. (NYSE: UNM) on behalf of shareholders who purchased shares during a specific period. The lawsuit alleges that defendants made false and misleading statements in press releases and filings with the Securities and Exchange Commission. The class action seeks to compensate those affected by these alleged securities law violations.

Key Takeaways:

  • The class action lawsuit was filed in the United States District Court for the District of Maine on September 30, 1999.
  • The lawsuit targets UNUMProvident Corp. (NYSE: UNM) and certain officers and directors.
  • The complaint alleges violations of the federal securities laws, including Sections 10(b), 14(a), and 20 of the Securities Exchange Act of 1934, as amended, and Sections 11, 12(2), and 15 of the Securities Act of 1933, as amended.
  • Plaintiff is represented by Wechsler Harwood Halebian & Feffer LLP and Bull & Lifshitz, LLP.
  • The class of eligible shareholders includes those who purchased UNUMProvident, UNUM, or Provident shares during the Class Period (February 4, 1998, to August 2, 1999) or were issued UNUMProvident shares.
  • Shareholders who wish to move for lead plaintiff must do so by November 30, 1999.

Statistics:

  • UNUMProvident Corp. (NYSE: UNM) is the focus of the class action lawsuit.
  • The class period spans from February 4, 1998, to August 2, 1999.
  • The complaint alleges violations of the Securities Exchange Act of 1934, as amended, particularly Sections 10(b), 14(a), and 20.
  • The Securities Act of 1933, as amended, is also a relevant statute in this case, with alleged violations of Sections 11, 12(2), and 15.
  • 877-935-7400 (toll-free number) and 212-869-9449 (outside New York State) are phone numbers provided for those who wish to discuss the action.

Sources:

  • "Wechsler Harwood Continues Class Action Against UNUMProvident Corp. (NYSE: UNM)". Wechsler Harwood Halebian & Feffer LLP. October 3, 1999.

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