If you have purchased shares of Genworth Financial Inc (NYSE:GNW) between February 3, 2012 and April 17, 2012, call 1-800-934-2921 right now to protect your rights.
Filing deadline: 06/03/2014
The lawsuit concerns what the investor is claiming are misleading statements that were given to the investing public from Genworth Financial Inc. The investor claims that Genworth Financial Inc. misled the public over the financial health of Genworth Financial Inc.'s Australian mortgage company and that the company was not prepared when it stated to investors that the mortgage company's IPO for the second quarter of 2012 was ready. As a result, the investor is claiming that the stocks for Genworth Financial Inc, were being traded at an artificially inflated price between February 3 to April 17 of 2012. Some of the shares went as high as $9.54 per share.
Evidence of the allegations occurred when, on April 17, 2012, Genworth Financial Inc. stated they needed a new timetable for their mortgage company's IPO for early 2013 subject to market conditions, regulations, and business performance. As a result of this, the shares of Genworth Financial Inc. declined rapidly to $4.88 in May 2012 and $4.32 in August 2012. Representing all persons and entities that invested in Genworth Financial Inc. during this time, the investor is seeking damages for the financial losses of all investing parties who participated in the shares between the February 3 to April 17, 2012 time table.
The court case is now being considered in U.S. District Court for the Southern District of New York. The court case will specifically review whether or not Genworth Financial Inc. violated sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The lawsuit has been filed as of April 4, 2014.
Own shares of Genworth Financial Inc (NYSE:GNW)? Contact us to protect your rights.
If you have purchased shares of Genworth Financial Inc (NYSE:GNW) between February 3, 2012 and April 17, 2012, call 1-800-934-2921 right now to protect your rights. Complete the form on this page or call attorney Bill Kyros at 1-800-934-2921 right now to protect your rights.