Market Overview

Robbins Arroyo LLP: Unum Group (UNM) Misled Shareholders About Long-Term Care Reserves According to Class Action


Shareholder rights law firm Robbins
Arroyo LLP
announces that purchasers of Unum Group (NYSE:UNM) filed
a class action complaint against the company's officers and directors
for alleged violations of the Securities Exchange Act of 1934 between
October 27, 2016 and May 1, 2018. Unum, together with its subsidiaries,
provides financial protection benefit solutions in the United States,
the United Kingdom, and internationally.

View this information on the law firm's Shareholder Rights Blog:

Unum Accused of Misleading Investors About Its Long-Term Care

According to the complaint, Unum routinely misrepresented the expected
range of its long-term care loss ratio. In so doing, Unum downplayed the
likelihood that the company would experience excessive losses and need
to take a crippling charge to its reserves. After Unum took modest
reserve charges in 2011 and 2014, Unum officials reassured investors
that the company's underlying assumptions were unlikely to lead to
future losses and expected an 85% to 90% long-term loss ratio. Unum
stunned investors on May 1, 2018, when the company reported that its
2018 loss ratio for its long-term care business had ballooned to 96.6%,
and again the next day when Unum admitted that it expected volatitlity
in its long-term care business to continue. On this news, Unum's stock
fell nearly 17% to close at $39.78 per share on May 2, 2018, and has yet
to recover its lost value.

Unum Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003,,
or via the shareholder
information form
on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
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