Cigna has settled a string of class-action lawsuits brought by its shareholders over its pending merger with Anthem, according to a Securities and Exchange Commission filing. The company chose to settle, according to the filing, "solely to avoid the costs, risks and uncertainties inherent in litigation, and without admitting any liability or wrongdoing."
The settlement still is awaiting approval from the court, which could award the plaintiffs' counsel "reasonable fees"--though the filing does not say how much. If the court approves the settlement, the lawsuits will be dismissed with prejudice. Filing