The Phoenix Companies, Inc. (NYSE:PNX) Shareholder Class Action Lawsuit

False statements that were allegedly made by The Phoenix Companies, Inc. (NYSE:PNX) have resulted in a securities class action lawsuit filed by an investor in the U.S. District Court for the District of Connecticut. The lawsuit alleges that The Phoenix Companies, Inc. has violated Federal Securities Laws as a result of statements that were false or misleading. The statements in question were allegedly made between May 5th 2009 and November 6th 2012.

If you have purchased shares of The Phoenix Companies, Inc. (NYSE:PNX) between May 5, 2009 and November 6, 2012 , call 1-800-934-2921 right now to protect your rights.

Filing deadline:  06/17/2013

The plaintiff has filed suit on behalf of all individuals or entities who acquired securities of The Phoenix Companies, Inc. (NYSE:PNX) during the same time period where the allegedly false statements have been made (from May 5th 2009 to November 6th 2012). The complaint states that The Phoenix Companies, Inc. and some of its officers have made actions that are violations of the Securities Exchange Act of 1934. These alleged violations stem from statements that the plaintiff believes were materially false and misleading, related to the company's compliance, business and operational policies.

It has been reported by The Phoenix Companies, Inc. that annual revenue has gone down from more than $1.98 billion in 2010 to $1.84 billion in 2011. However, The Phoenix Companies, Inc. has at the same time reported that net income during the same time period increased from $26.30 million to $47.70 million.

A 1 for 20 reverse stock split has been implemented by NYSE:PNX after the close of trading day on August 10th 2012.

An announcement was made by the company on November 8th 2012 that it will postpone the release of financial results for the third quarter of 2012. A conference call that was scheduled was also postponed. The Phoenix Companies, Inc. has also announced that it will restate many of its GAAP financial statements.

NYSE:PNX shares went down from $29.77 per share on November 6th 2012 to a low point of $24.14 per share that was reached on November 9th 2012.

As of April 17th 2013, NYSE:PNX shares were worth $27.76 per share, which is a lot less than the company's current 52 week high, which reached a price of $43.60 per share.

Own shares of The Phoenix Companies, Inc. (NYSE:PNX)? Contact us to protect your rights.

If you have purchased shares of The Phoenix Companies, Inc. (NYSE:PNX) between May 5, 2009 and November 6, 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. 

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