Genworth Financial receives securities class action lawsuit


A law office recently announced that it filed a securities class action claim against a financial services company due to potential securities law violations.

Law firm Glancy Binkow and Goldberg, LLP, noted that it filed the litigation in the U.S. District Court for the Southern District of New York against Genworth Financial, Inc. This includes all shareholders who acquired stock in the company during the class period between Feb. 3, 2012 and April 17, 2012.

Shareholders who are interested in becoming lead plaintiff in the case need to file the correct paperwork with the court by June 3, 2014. This is not mandatory for every stockholder who is interested in collecting in the event of a payout, and these individuals can remain absent class members.

The complaint alleged that the company’s leaders either misled shareholders, or did not let them know about a number of issues. These include the possibility that the company was not documenting its Australian mortgage insurance unit’s loss reserves, the trends and issues that were related to delinquencies in Australia in the latter part of 2011 and other losses and defaults in the country.

For those who would like to learn more about the legal process and how it may affect their own rights, shareholders are welcome to speak with the law office. Michael Goldberg and Gregory Linkh are the best people to talk to, and they can be reached by email, mail or telephone. For those who are contacting the office by email, it is necessary that they leave their telephone number, mailing address and the number of shares they own from Genworth Financial. Additionally, there is more information available on the law office’s website.

Second lawsuit filed
Another law office announced that it filed a class action claim in the same court against Genworth Financial for the aforementioned class period for many of the same reasons.

Brower Piven noted that it filed the lawsuit due to allegations from shareholders that the company violated the Securities Exchange Act of 1934. The information that the lawsuit stemmed from surfaced on April 17, 2012.

It is an option for shareholders to speak with this law office regarding the litigation, as well. The firm can be reached by telephone or email, while there is further information available on its website.