Humana hit with investor class-action lawsuit over Aetna deal

Louisville, Ky.-based health insurer Humana has been hit with an investor class-action lawsuit seeking to block the company from being acquired by Hartford, Conn.-based Aetna, according to a Law360 report.

Earlier this month, Aetna entered into a definitive agreement to acquire Humana in a deal valued at $37 billion. Under the deal, Humana stockholders will receive $125 in cash and 0.8375 Aetna common shares for each Humana share.

However, Maureen Scott, the lead plaintiff in the lawsuit, claims the deal undervalues Humana and accuses Humana and its board of directors of breaching their fiduciary duty to shareholders by agreeing to the deal, according to the report.

Ms. Scott also claims the Aetna-Humana deal underestimates the antitrust hurdles ahead.

The case is pending in Delaware Chancery Court.

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