Humana Officers Prevail In Shareholders' Suit

Law360, New York (June 23, 2009, 12:00 AM EDT) -- A federal judge has dismissed a proposed securities class action alleging officers of health insurer Humana Inc. artificially inflated stock prices and misled investors with false economic projections, saying the shareholders' claims do not stand up to scrutiny.

The aggrieved shareholders failed to adequately plead that present and historical statements from the officers were misleading, and forward-looking statements the officers made are protected by “safe harbor” rules, said Judge Joseph H. McKinley Jr. of the U.S. District Court for the Western District of Kentucky, in a...
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