Anthem : Scott+Scott Attorneys at Law LLP is Investigating Derivative Claims on Behalf of Shareholders of Anthem, Inc. (ANTM)
NEW YORK, March 14, 2018 /PRNewswire/ -- Scott+Scott Attorneys at Law LLP ("Scott+Scott"), a national shareholder and consumer 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. If you are an Anthem shareholder, you are encouraged to contact Scott+Scott for additional information.
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 trial of the antitrust case – allegedly 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 made misrepresentations to them, 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 contact attorney Joe Pettigrew at (844) 818-6982, or at [email protected].
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
SOURCE Scott+Scott, Attorneys at Law, LLP