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HANFORD QUOCK et al v AETNA INC ET AL Click to find out why . . .



Keywords & Phrases
CaseNo: HQEAVAIEA169600, CourtName: MISC 2, Plaintiff: HANFORD QUOCK et al, State: NY New York, UniqueCaseRef: LCD>HQEAVAIEA169600, Aetna, Stock Issuance, Spin-off, Registration Statement, Securities, Exchange, Analyst, Aetna Shares, Reports, Healthcare, Allegations, Material Fact, Medical Costs, Misleading, Individual Defendants, Shareholders, Defendant Rowe, Management, Disclosures, United States, Defendant Donaldson, Class Action, Exchange Act, Class Period, Subsidiaries, Health Care, Aetna Common , ContentID: 120252704

Case Documents
1 2000-12-13 CLASS ACTION COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 127790
38 pages
PDF
Total Documents: 1 document , 38 pages
Price: $ 19.95


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1 . CLASS ACTION COMPLAINT

EXTRACTED KEY WORDS
DEFENDANTS
STOCK ISSUANCE
PLAINTIFF
SPIN-OFF
REGISTRATION STATEMENT
SECURITIES
EXCHANGE
ANALYST
AETNA SHARES
REPORTS
HEALTHCARE
ALLEGATIONS
MATERIAL FACT
MEMBERS
MEDICAL COSTS
MISLEADING
INDIVIDUAL DEFENDANTS
SHAREHOLDERS
DEFENDANT ROWE
MANAGEMENT
DISCLOSURES
UNITED STATES
DEFENDANT DONALDSON
CLASS ACTION
EXCHANGE ACT
CLASS PERIOD
SUBSIDIARIES
HEALTH CARE
AETNA COMMON
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
-----------------------------------x
HANFORD
                       QUOCK,
                                               :
on behalf of himself               :
and all others similarly situated, :
                                   :  CASE NO. 01 CV 9796 (GBD)
         Plaintiff,                                                      :
                                                                         :  CLASS ACTION COMPLAINT
            v.                                                           :
                                                                         :   JURY TRIAL DEMANDED
AETNA,
                    INC.,


                                                                         :

WILLIAM H. DONALDSON and                                                 :
JOHN W. ROWE, M.D.,                                                      :
                                                                         :
         Defendants.                                                     :
-----------------------------------x

     Plaintiff complains1 of defendants as follows:

                                                        I.  SUMMARY OF ALLEGATIONS

              1.  In order to spin-off Aetna U.S. Healthcare, Inc.(ANew

Aetna@ or the ACompany@), a then wholly owned subsidiary of Aetna,

Inc. (AOld Aetna@), a Connecticut incorporated financial services

company, to its public shareholders, defendants filed a

registration statement with amendments (the ARegistration

Statement@) with the Securities and Exchange Commission (the ASEC@).

 Thereafter, on December 13, 2000, Old Aetna shareholders received

a share of New Aetna for each share of Old Aetna (along with cash.)


1             Plaintiff's allegations pertaining to plaintiff and his
counsel are made on knowledge.  All other allegations are made
upon information (including that derived from analysis of
SNIPPETS:
  • UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
  • Plaintiff complains1 of defendants as follows:
  • In order to spin-off Aetna U.S. Healthcare,
  • Thereafter, on December 13, 2000, Old Aetna shareholders received
  • All other allegations are made upon information (including that derived from analysis of
  • This spin-off and stock issuance
  • Healthcare, Inc. which would thereafter be renamed Aetna, Inc. (a
  • During the Class period and before,
  • management capacity to know and hold down its costs in the highly
  • untrue or misleading the statements made in the Registration
  • announcing higher-than-anticipated medical costs during the fourth
  • The value of New Aetna shares had been artificially
  • Moreover, throughout the Class Period, the individual defendants
  • Registration Statement, other false disclosures and the legal
  • Sections 10and 20of the Securities Exchange Act of 1934
  • Plaintiff and class members relied or are deemed to
  • United States Health Care Systems,
  • New Aetna common stock outstanding.
  • CLASS ACTION ALLEGATIONS
  • as well as all of its subsidiaries
  • Defendant Donaldson reported that New Aetna Ashould be
  • Defendant Rowe, for his part, said that AI will
  • This material fact, although known to defendants, was not
  • disclosures took its toll on stock analyst picks.
  •    |