PHILADELPHIA – An Aetna stockholder claims that the company issued a registration statement that omits information stockholders need regarding a proposed transaction.
Robert Freedman filed a complaint on behalf of all others similarly situated on Jan. 25 in the U.S. District Court for the Eastern District of Pennsylvania against Aetna Inc., et al. alleging violation of the Securities Exchange Act.
According to the complaint, Aetna announced in December 2017 that it would be acquired by CVS Health Corp. and Hudson Merger Sub Corp. and filed a registration statement with the U.S. Securities and Exchange Commission on Jan. 4.
The plaintiff holds Aetna Inc., et al. responsible because the defendants allegedly issued a statement that omits material information concerning the transaction and that without this information, stockholders cannot make an informed decision on how to vote their shares.
The plaintiff requests a trial by jury and seeks enjoin the defendants from consummating the proposed transaction until the company discloses the material information, rescissory damages, all damages, court costs and any further relief this court grants. He is represented by Jeffrey W. Golan and Julie B. Palley of Barrack, Rodos & Bacine in Philadelphia.
U.S. District Court for the Eastern District of Pennsylvania case number 2:18-cv-00323-RK