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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Leslie Small

Leslie Small

Leslie has been working in journalism since 2009 and reporting on the health care industry since 2014. She has covered the many ups and downs of the Affordable Care Act exchanges, the failed health insurer mega-mergers, and hundreds of other storylines spanning subjects such as Medicaid managed care, Medicare Advantage, employer-sponsored insurance, and prescription drug coverage. As the managing editor of Health Plan Weekly and Radar on Drug Benefits, she writes and edits for both publications while overseeing a small team of reporters who also focus on the managed care sector. Before joining AIS Health, she was a senior editor for the e-newsletter Fierce Health Payer, and she started her career as a copy editor at multiple local newspapers. She graduated with a dual degree in journalism and political science from Penn State University.

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