Shareholder Suit Keeps Anthem/Cigna ‘Soap Opera’ Alive

Although a judge has already ruled in a lengthy court battle over the breakup fee and damages related to Anthem, Inc.’s failed attempt to acquire Cigna Corp., litigation related to the doomed deal apparently is not yet over. Instead, a lawsuit recently filed by Cigna shareholders seeks to hold that company’s leaders responsible for their alleged “sabotage” of the acquisition.

Anthem and Cigna first unveiled their $54 billion transaction in 2015, on the heels of Aetna Inc. and Humana Inc. announcing their own blockbuster combination. The Dept. of Justice sued to block both deals on antitrust grounds in 2016, and federal judges sided with regulators in both cases in February 2017.

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