Unum Group Shares Tumble As Lawsuits Continue to Pile Up

New York, NYIn the current state of the global economy, a number of companies have taken a severe hit when it comes to the value of their stocks, but Unum Group is facing bigger problems as its shares reached a 52-week low recently.

According to the Financial News Network, shares of the disability and special risk insurance provider fell to $20.24, the lowest level in a year. Additionally, on September 22, approximately 3.6 million shares were traded as compared to the average 30-day volume of 4.1 million shares.

During the past 52 weeks, shares of Unum Group have fluctuated between the high of $27.16 and the low of $20.24, the news source said. Over the past few weeks, the 200-day moving average has continued to remain constant, while the 50-day moving average has fallen by 1 percent.

Unum Group, which has operations in the US, UK and other countries, is a provider of disability insurance, group life insurance and other benefits for employees in various industries. The tough sledding for the company's shares comes amid a number of accusations against the company, most often involving plaintiffs claiming they did not receive the benefits they were entitled to.

This was the case recently of a North Carolina man who believes he was not given the appropriate benefits he deserved after undergoing an operation for an injury that did not fully heal. With conflicting reports from doctors, the man claims he suffered significantly when Unum stopped giving him disability benefits.

Such cases have been filed by employees and former workers around the country against Unum Group, perhaps contributing to the company's falling share prices in recent weeks.

Other cases against Unum have popped up in which the insurance company has allegedly stopped providing long-term benefits, including the case of a Boswell, Pennsylvania woman suffering from brain injuries.

According to the Tribune-Democrat, Susan G. Harris decided to file a civil lawsuit against Unum Group in US District Court in Johnstown, Pennsylvania, contending the company purposely delayed the investigation into her disability claims and made requests that she deemed unreasonable.

Harris is reportedly seeking benefits payments as she claims to have been unable to work since her injury. The woman also claims she receives disability payments from Social Security, according to the news source.