September 20, 2010 - The U.S. Court of Appeals for the Third Circuit affirmed the decision of the district court.
July 7, 2009 - The lead plaintiff filed a notice of appeal.

June 9, 2009 - The court granted the defendants' motion to dismiss and entered judgment in favor of the defendants.

August 4, 2008 - The defendants filed a motion to dismiss.

June 2, 2008 - The lead plaintiff filed a consolidated complaint.

February 29, 2008 - The lead plaintiff and lead counsel were appointed and all cases were consolidated.

December 24, 2007 - Lead plaintiff motions were filed.

October 24, 2007 - An investor in shares of Aetna Inc (NYSE: AET) filed a lawsuit in the U.S. District Court for the Eastern District of Pennsylvania against Aetna Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between October 27, 2005 and April 27, 2006.

The complaint charges Aetna Inc and certain of its officers and directors with violations of sections 10(b), 18, and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that during the second half of 2005, Aetna Inc touted its expanding membership rolls as a primary reason for a growth in operating income.

Aetna Inc’s Medical Cost Ratio is the percentage of dollars a company spends on health care, including physician reimbursement, and is the key number for health plans in terms of their level of profitability. For six months, defendants misrepresented or failed to disclose the rise in Aetna Inc's MCR. Unbeknownst to investors, however, from at least as early as September 2005, defendants had in their possession information that contradicted or rendered statements made by the defendants between October 27, 2005 and April 27, 2006, false.

The complaint alleges that on April 27, 2006, Aetna Inc shocked the market when it disclosed a rise in its MCR relative to the prior year. This higher MCR, coupled with large membership growth, meant that the company was under-pricing its health plans in order to speed up enrollment. This fact, which the defendants knew by September 2005, was conspicuously absent from defendants’ public disclosures between October 27, 2005 and April 27, 2006. From April 26, 2006 to April 27, 2006, Aetna Inc (NYSE: AET) shares fell from $46.43 per share to $37.00 per share, a decline of $9.43 per share, or over 20 percent, representing a loss in market capitalization of $5.4 billion.