CHATTANOOGA, Tenn. ? Despite UnumProvident Corp.’s $15 million fine from a multistate investigation of denied claims and a disappointing first quarter, no shareholders complained Thursday.

One day after shares of the nation’s largest disability insurer traded at $17.27, up more than $3 from before the May 2004 annual meeting, none of the dozens of shareholders even asked a question.

In December, UnumProvident agreed in a settlement of an investigation by regulators in Tennessee, Maine, Massachusetts and more than 40 other states to reconsider about 200,000 claims, make changes in claims handling and pay a $15 million fine.

The settlement provides for a $145 million fine if the company fails to meet terms of the agreement.

Thomas Watjen, the company’s president and chief executive officer, told shareholders the company has streamlined its operations and “at no time over the past five years have our interests been as well-aligned as they are today.”

He said the company’s “survival” in 2004 was riding on satisfactorily addressing challenges such as rebuilding financial strength and retaining customers.