Investors Slam Coventry, Execs With Fraud Suit

Law360, New York (September 4, 2009, 4:01 PM EDT) -- Investors have launched a class action against Coventry Health Care Inc. and its management for allegedly concealing adverse information about the company while insiders sold hundreds of thousands of shares of Coventry stock.

The Plumbers Local No. 98 Defined Benefit Pension Fund filed the suit on Thursday in U.S. District Court for the District of Maryland, claiming the company's shareholder and investor reports and other communications contained misstatements and omissions misleading investors to purchase and retain Coventry stock.

In addition to the company, the suit also...
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