3rd Circ. Affirms Dismissal Of Aetna Securities Action

Law360, New York (August 11, 2010, 7:22 PM EDT) -- A federal appeals court on Wednesday affirmed the dismissal of a putative securities class action that accused Aetna Inc. and four company officers of misleading investors about Aetna's pricing of health insurance policies, then selling their stock before the scheme was revealed to the public.

The alleged misrepresentations that formed the basis of the plaintiffs' claims were protected by the Private Securities Litigation Reform Act's safe harbor provisions because they were forward-looking, identified as such, accompanied by adequate cautionary statements and immaterial as a matter of...
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