RADNOR, Pa., June 30, 2018 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against Unum Group (NYSE:UNM) (“Unum” or the “Company”) on behalf of investors who purchased or acquired the Company’s common stock between January 31, 2018 and May 2, 2018, inclusive (the “Class Period”).

DEADLINE ALERT:  Investors who purchased Unum common stock during the Class Period may, no later than August 13, 2018, seek to be appointed as a lead plaintiff of the investor class.

Unum investors are encouraged to contact Kaskela Law LLC (David Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740 to discuss their important legal rights and options with respect to this action.  Investors may also submit their information to the firm online at http://kaskelalaw.com/case/unum-group/.

As detailed in the shareholder class action complaint, Unum and certain other defendants are alleged to have made false and misleading statements and/or failed to disclose the following material adverse facts to investors during the Class Period: (1) that the Company was experiencing a higher claims incidence for its long-term care business; (2) that the Company was experiencing less favorable policy terminations in connection with its long-term care business; and (3) that the Company’s long-term care business loss ratio would reach the upper 90% range.  The complaint further alleges that, as a result of the foregoing, the defendants’ statements about Unum’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis when made.

After the Company reported its Fiscal 2018 First Quarter financial and operational results, on May 2, 2018, Unum’s CFO disclosed that “[b]enefits experience this quarter was driven by new claim incidence that ran much higher than expected,” and that “the higher loss ratio this quarter was negatively impacted by a lower level of policy terminations.”  Following this news, shares of the Company’s stock declined $8.12 per share, or nearly 17%, to close at $39.78 on May 2, 2018.

Unum investors are encouraged to contact Kaskela Law LLC to discuss this action and their important legal rights and options.  Kaskela Law LLC exclusively prosecutes shareholder actions in state and federal courts throughout the country on behalf of investors.  For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.

CONTACT:

Kaskela Law LLC
David Seamus Kaskela, Esq.
201 King of Prussia Road
Suite 650
Radnor, PA 19087
(484) 258 – 1585
(888) 715 – 1740
skaskela@kaskelalaw.com
www.kaskelalaw.com