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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