NEW YORK, Oct. 13, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Humana Inc. ("Humana" or the "Company") (NYSE: HUM) (ISIN: US4448591028). Investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Humana and certain of its officers and/or directors have violated the federal securities laws.
According to the Centers for Medicare and Medicaid Services ("CMS"), the percentage of Humana's membership in plans rated four stars or higher fell to roughly 37% in July from 78% the previous year. On October 12, 2016, Humana advised investors that the downgrade of the Company's Medicare star-quality rating could lower its federal reimbursements. Humana stated that it will take actions "to mitigate any potential negative impact of these published ratings on star bonus revenues for 2018," including seeking reconsideration of certain ratings and that the Company believes the decline stems from a recently-ended program audit by the CMS.
On this news, Humana stock fell $9.09, or 5.12%, to close at $168.44 on October 12, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP