A federal judge has dismissed a securities fraud suit that accused executives at health insurance giant Aetna Inc. of making false statements about the company’s “disciplined” pricing strategies that were designed to drive up stock price so that they could cash in and sell $61 million in stock.
In his 49-page opinion in In re Aetna Inc. Securities Litigation , Senior U.S. District Judge Thomas N. O’Neill Jr. found that the allegedly false statements were all protected by the “safe harbor” in securities law because they amounted to nothing more than “forward-looking” statements that were accompanied by “meaningful cautionary” statements that put investors on notice of the risk.
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