NEW YORK, Aug. 19, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm announces that a class action lawsuit has been filed against Genworth Financial, Inc. (NYSE:GNW) on behalf of purchasers of the Company's securities from December 4, 2013 through July 29, 2014, inclusive. The lawsuit seeks to recover damages for Genworth shareholders under the federal securities laws.
To join the Genworth class action, go to the website at http://rosenlegal.com/cases-337.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Genworth issued materially false and misleading statements and/or failed to disclose issues concerning its long term care insurance ("LTC") division. Specifically, the Company made material misrepresentations concerning: (i) the increase in the number and size of its LTC claims; and (ii) the increase of reserves required to meet these claims. On July 29, 2014, Genworth announced that its LTC division suffered greater losses than the previous quarter due to higher and greater LTC claims and it was reviewing the adequacy of its claims reserves. Upon this news, the price of Genworth's securities dropped, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 17, 2014. If you wish to join the litigation go to http://rosenlegal.com/cases-337.html or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.