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IN RE CIGNA CORP. SECURITIES LITIGATION

Civil Action No. 02-8088.

459 F.Supp.2d 338 (2006)

In re CIGNA CORP. SECURITIES LITIGATION.

United States District Court, E.D. Pennsylvania.

August 18, 2006.

Attorney(s) appearing for the Case

Carole A. Broderick, Berger & Montague, P.C., Philadelphia, PA, for Pennsylvania State Employees Retirement System.

Alexander R. Sussman, David M. Morris, Fried Frank Harris Shriver & Jacobson LLP, New York City, John G. Harkins, Jr., Harkins Cunningham, Philadelphia, PA, for Cigna Corp., H. Edward Hanway and James G. Stewart.

Robert L. Ebby, Hangley Aronchick Segal and Pudlin, Philadelphia, PA, for Hewitt Associates LLC.

MEMORANDUM REGARDING ECONOMIC LOSS

BAYLSON, District Judge.

Defendants in this class action securities fraud case assert that the Lead Plaintiff, Pennsylvania Employees Retirement System ("SERS") will be unable to prove economic loss and loss causation, and have filed a Motion for Summary Judgment seeking to dismiss SERS's claims on that ground. In a nutshell, the facts show that SERS purchased, through investment advisors, large quantities of CIGNA...

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