NEW YORK, July 25, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Tennessee on behalf of all persons or entities who purchased or otherwise acquired Unum Group (NYSE:UNM) securities between January 1, 2018 and May 2, 2018 (the “Class Period”).  Investors have until August 13, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.  Specifically, Defendants failed to disclose: (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; (3) that, as such, the Company’s long-term care business loss ratio would reach the upper 90% range; and (4) that, as a result of the foregoing, Defendants statements about Unum’s business, operations, and prospects, including statements related to the Company’s long-term care reserves and capital management plans, were materially false and/or misleading and/or lacked a reasonable basis. 

On May 1, 2018, after the market had closed, Unum issued a press release announcing its first quarter 2018 financial results, and disclosed that, “The interest adjusted loss ratio for the long-term care line of business was 96.6 percent in the first quarter of 2018, compared to the 88.6 percent in the first quarter of 2017.”  Following this news, the stock price of Unum fell $8.12 per share, or over 16.9%, to close at $39.78 per share on May 2, 2018.

If you purchased or otherwise acquired Unum shares and suffered a loss, continue to hold shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form.  There is no cost or obligation to you.

Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation.  For additional information concerning our investigation into Unum Group, please go to http://www.bespc.com/unm.  For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.

Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com