By: Ana Radelat and CT Mirror
In a vicious legal battle laid out in court papers unsealed Friday, Cigna accuses Anthem of undermining its business by stealing confidential information and soliciting its customers.
Anthem counters in a rival filing that Cigna worked to sabotage the companies’ proposed merger after its executives were not promised the positions they wanted in the merged company.
In their blistering lawsuits, the companies blame each other for the failure to obtain regulatory approval for the merger.
In its 51-page suit filed in the Delaware Court of Chancery earlier this week, Cigna charged that Anthem “put its own interests ahead of its contractual obligations” and acted “with the intent to harm Cigna’s business.”
The Cigna lawsuit asks for an immediate end to the merger agreement, a $1.85 billion reverse breakup fee and at least $13 billion in damages.