Haeggquist & Eck Investigates Anthem Directors and Officers for Breach of Fiduciary Duty Regarding Failed Cigna Merger
February 05 2018 - 9:00AM
Business Wire
Haeggquist & Eck, LLP, a leading shareholder rights
litigation firm, is investigating whether certain directors and
officers of Anthem, Inc. (“Anthem” or the “Company”) (NYSE: ANTM)
breached their fiduciary duties to the Company and its
shareholders.
Specifically, our investigation focuses on Anthem’s failed $54
billion attempted merger with Cigna and whether Anthem’s officers
and directors misled investors and the DOJ when they stated
publicly that the merger would lead to improved efficiencies and
reduce health care costs. Internal Anthem documents – which came
out during the antitrust trial in the case – show that Anthem never
had any plan to reduce health care costs post-merger and instead
planned to raise costs and touted the increased profits the company
would reap once the merger closed.
We are also investigating whether Anthem’s directors and
officers misled investors and the DOJ about its entanglement with
the Blue Cross Blue Shield Association of America (“BCBS”). Anthem
had made contractual commitments with BCBS. Anthem knew that BCBS
would need to agree to lift these contractual restrictions for the
merger to go through. Cigna contends that Anthem misrepresented to
Cigna, the DOJ and investors that the BCBS had agreed to lift these
contractual restrictions even though Anthem knew that this was
false.
Anthem has suffered serious damage due to the misrepresentations
and failed merger, because under the merger agreement, Anthem must
pay Cigna a $1.85 billion termination fee, and Cigna is suing for
nearly $14 billion in additional damages.
What You Can Do
If you are an Anthem shareholder, you may have legal claims
against Anthem’s directors and officers. If you wish to discuss
this investigation, or have questions about this notice or your
legal rights, please call attorney Amber Eck at 619-342-8000 or
e-mail her at ambere@haelaw.com. There is no cost or obligation to
you.
Haeggquist & Eck, LLP is a nationally recognized leader in
shareholder rights law. The firm represents individual investors in
shareholder derivative lawsuits, and members of the firm have
helped shareholders recover more than $1 billion of value for
themselves and the companies in which they have invested.
This release constitutes attorney advertising. Past results do
not guarantee a similar outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20180205005226/en/
Haeggquist & Eck, LLPAmber
Eck619-342-8000ambere@haelaw.com
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