In 2012, Cigna acquired a regional Medicare insurer with the objective of entering the Medicare insurance market. As a result of the acquisition, Cigna was required to comply with regulations relating to its participation in the Medicare insurance market. Plaintiffs alleged that Cigna made misleading statements about its compliance efforts in its SEC filings and in another publication. Specifically, plaintiffs focused on statements in the company's 2013 Form 10-K that it had policies in place to comply with pertinent Medicare regulations, and Cigna's statement in its 2014 Form 10-K that it would continue to "allocate significant resources" towards compliance. Plaintiffs also alleged there were materially misleading statements in a pamphlet published in December 2014 discussing Cigna's dedication to integrity and regulatory compliance.