Aetna Inc. securities suit stays dead after appeals court ruling

The 3rd Circuit Court of Appeals recently refused to revive most of the claims made by investors who sued the insurance company because they believed it made false statements about its supposedly “disciplined” investment strategy. The plaintiffs claimed the assurances were actually designed to enrich company executives at the expense of investors. The court said the statements were just forward looking and accompanied by the appropriate cautionary language — which means they were covered by Safe Harbor provisions in U.S. securities laws. The ruling upholds an earlier district court ruling. | More at Law.com

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