Unum Group (UNM) Accused of Making False Statements About Its Long-Term Care Reserves

According to the class action complaint, Unum Group (UNM) failed to disclose that the company was experiencing higher claims incidence and less favorable policy terminations in connection with its long-term care business. On this news, Unum's stock fell nearly 17% to close at $39.78 per share on May 2, 2018, and has yet to recover its lost value. Unum, together with its subsidiaries, provides financial protection benefit solutions in the United States, the United Kingdom, and internationally.

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