Cigna Rejects Anthem Secret Plot Claim In $54B Merger Trial
Law360, Wilmington (March 6, 2019, 10:35 PM EST) -- Cigna Corp.'s chief counsel rejected allegations Wednesday that the health insurance giant assembled a secret consultant group to help change or scuttle a $54 billion merger with even bigger Anthem Inc., while testifying during the Delaware Chancery Court trial on the busted deal.
Testifying for much of the eighth day of a 10-day, multibillion-dollar damages trial in Delaware, Cigna's Nicole Jones acknowledged keeping silent about one of the consultants' roles in spreading negative information about the deal after Anthem sought an investigation into leaks of "dispute" letters exchanged by the two companies, and about conflicts over the merger.
The consultant, Teneo, was...
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