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Coventry Health Care Inc (NYSE: CVH) Investor Securities Class Action Lawsuit 09/03/2009

  • If you purchased shares of Coventry Health Care Inc (NYSE: CVH), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Coventry Health Care, Inc.
Security
NYSE: CVH

Case Name
Coventry Health Care Shareholder Class Action Lawsuit 09/03/2009
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of Maryland

Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
Coventry Health Care, Inc Settlement Notice.pdf
Settlement Proof
Coventry Health Care, Inc Settlement Proof.pdf
Filed Complaint
coventry_health_care_inc_original_fililng_edited_9_2009.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$10,000,000.00
Deadline to Participate in Settlement

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Summary

October 29, 2013 - The court held a final settlement hearing, approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
July 15, 2013 - The court preliminarily approved the settlement.

May 20, 2013 - Parties filed a stipulation of settlement.

March 30, 2011 - The court granted in part and denied in part the defendants' motion to dismiss.

July 22, 2010 - The defendants filed a motion to dismiss.

May 28, 2010 - The lead plaintiffs filed an amended consolidated complaint.

April 6, 2010 - The lead plaintiffs and lead counsel were appointed and all cases were consolidated.

November 2, 2009 - Lead plaintiff motions were filed.

September 3, 2009 - An investor in shares of Coventry Health Care Inc (NYSE: CVH) filed a lawsuit in the U.S. District Court for the District of Maryland against Coventry Health Care Inc (NYSE: CVH) over alleged violations of Federal Securities Laws.

According to the complaint the plaintiff alleges Coventry Health Care Inc and certain of its executives with violations of the Securities Exchange Act of 1934. Issuing between February 9, 2007 and October 22, 2008 numerous positive statements regarding Coventry Health Care Inc's financial condition, business and prospects, that were materially false and misleading because defendants failed to disclose adverse facts. Then on October 21, 2008, Coventry Health Care Inc issued a press release announcing its financial results for its third quarter of 2008, the period ended September 30, 2008. In response to this announcement, the price of Coventry Health Care Inc common stock declined from $28.49 per share to $13.93 per share, or more than 51%, on very heavy trading volume.

Coventry Health Care Inc, located in Bethesda, MD, is a diversified national managed healthcare company based in Bethesda, Maryland, operating health plans, insurance companies, network rental and workers’ compensation services companies.

Coventry Health Care Inc reported in 2007 Total Revenue of $9.87953billion with a Net Income of $626.09million and in 2008 Total Revenue of $11.91365billion with a Net Income of $381.89million. Shares of Coventry Health Care Inc (NYSE: CVH) traded recently at $22.85 per share, down from a 52weekHigh of $36.22 per share and over $61 per share in 2008 and 2007.

On May 7, 2013, Aetna Inc (NYSE: AET) acquired Coventry Health Care Inc.

coventry_health_care_inc_original_fililng_edited_9_2009.pdf
Date Settled