Universal American Financial (UHCO) Announces Dismissal of Class Action Universal Lawsuit
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Universal American Financial Corp. (NASDAQ: UHCO) announced that the securities class action entitled Robert Kemp vs. Universal American Financial Corp., Richard A. Barasch, Robert A. Waegelein and Gary W. Bryant that was filed in the United States District Court for the Southern District of New York (Case No. 05 CV 9883) in November 2005 has been dismissed with prejudice following a ruling by the Court in favor of the company defendants. This lawsuit was the consolidation of the two complaints that had alleged violations of federal securities laws in connection with, among other things, Universal American's Medicare Supplement business.
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