June 1, 2020 - The case was dismissed by the court with prejudice.

March 18, 2019 - A motion to dismiss the consolidated complaint was filed.

January 15, 2019 - A consolidated complaint was filed.

June 13, 2018 - An investor in shares of Unum Group (NYSE: UNM) filed a lawsuit in the U.S. District Court for the Eastern District of Tennessee over alleged violations of Federal Securities Laws by Unum Group in connection with certain allegedly false and misleading statements made between January 31, 2018 and May 2, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Unum Group (NYSE: UNM) common shares between January 31, 2018 and May 2, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between January 31, 2018 and May 2, 2018, the defendants failed to disclose that the Company was experiencing a higher claims incidence for its long-term care business, that the Company was experiencing less favorable policy terminations in connection with its long-term care business, that, as such, the Company’s long-term care business loss ratio would reach the upper 90% range, and 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.

Chattanooga, TN based Unum Group, together with its subsidiaries, provides financial protection benefit solutions in the United States, the United Kingdom, and internationally. Unum Group reported that its annual Total Revenue rose from over $11.04 billion in 2016 to over $11.28 billion in 2017 and that its Net Income increased from $931.4 million in 2016 to $994.20 million in 2017.

Shares of Unum Group (NYSE: UNM0 grew from $23.99 per share in early 2016 to as high as $58.73 per share in early 2018.

On May 2, 2018, Unum Group held a conference call to discuss its first quarter 2018 financial results. On the call, John F. McGarry (“McGarry”), the Company’s Chief Financial Officer (“CFO”) elaborated on the Company’s disclosures in the May 1, 2018 press release, stating “[b]enefits experience this quarter was driven by new claim incidence that ran much higher than expected” and “the higher loss ratio this quarter was negatively impacted by a lower level of policy terminations.”

Shares of Unum Group (NYSE: UNM) decline on May 29, 2018 to $36.91 per share.

On June 13, 2018, NYSE: UNM shares closed at $38.92 per share.