GENWORTH ALERT: Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Certain Officers & Directors of ...
August 14 2015 - 09:01PM
Business Wire
Shareholder Rights Law Firm Johnson & Weaver, LLP is
investigating whether certain officers or directors of Genworth
Financial, Inc. (NYSE: GNW) violated state or federal laws in
connection with statements regarding Genworth’s business,
operations and financial prospects. Genworth is the country’s
largest seller of long-term care insurance.
Recently, two separate orders were issued in separate securities
class actions pending against the Company and certain of its
officers and directors in which the Courts denied motions to
dismiss.
Specifically, on May 1, 2015, in a case pending in the U.S.
District Court for the Eastern District of Virginia, brought on
behalf of a class of shareholders who purchased the Company’s stock
between October 30, 2013 and November 5, 2014, the Court denied, in
part, defendants’ motion to dismiss. The Complaint in that action
alleged that throughout the Class Period, Genworth and its top
officers misrepresented the profitability of the Company’s core
business and reported false financial results by understating
necessary reserves.
Then, on June 16, 2015, in a separate securities class action
pending against the Company and certain of its officers in the U.S.
District Court for the Southern District of New York, the Court
denied defendants’ motion to dismiss in its entirety. The Complaint
filed in that action is brought on behalf of shareholders that
purchased Company stock between November 3, 2011 and April 12,
2012, alleging that the price of the Company’s stock was inflated
as a result of false statements concerning Genworth’s income and
assets.
If you are a continuous, long-term shareholder of Genworth
stock you may have standing to hold the Company harmless from the
damage the officers and directors caused by making them personally
responsible. You may also be able to assist in reforming the
Company’s corporate governance to prevent future
wrongdoing.
If you are a Genworth shareholder and are interested in
learning more about the investigation or your legal rights and
remedies, please contact lead analyst Jim Baker
(jimb@johnsonandweaver.com) at 619-814-4471. If
emailing, please include a phone number where you can be
reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New York and Georgia.
The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For
more information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20150814005672/en/
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
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