Judge: Exchange Company’s Post-ACA Guidance Didn’t Violate Securities Law
Mealey's (March 17, 2016, 2:21 PM EDT) -- SAN FRANCISCO — A health exchange company’s officer’s opinions regarding their financial health after passage of the Patient Protection and Affordable Care Act (ACA) and forward-looking statements with adequate warnings do not support class action claims under securities law, a federal judge in California held March 14 (Jeffrey West v. eHealth Inc., et al., No. 15-360, N.D. Calif.; 2016 U.S. Dist. LEXIS 33429).
(Opinion available. Document #93-160330-016Z.)
In 2013 and 2014, analysts and investors believed eHealth, a private health insurance exchange, was well positioned to take...