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Aetna (AET) Stock Plunges, Federal Judge Rules in Favor of House GOP in Obamacare Lawsuit

NEW YORK (TheStreet) -- Aetna (AET - Get Report) shares are tumbling 3.06% to $108.83 on Thursday afternoon following a U.S. District's judge decision to rule in favor of House Republicans in their lawsuit against the Obama administration over Obamacare.

Judge Rosemary Collyer said the administration does not have the power to spend money on "cost sharing reduction" payments to insurers without receiving permission from Congress, Reuters reports.

Specifically, the lawsuit challenges the legality of certain spending under ObamaCare.

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