NEW YORK, June 22, 2009 (GLOBE NEWSWIRE) -- Roy Jacobs & Associates announces that it is investigating possible claims for the violation of the federal securities laws on behalf of purchasers of the common stock of Manulife Financial Corp ("Manulife" or the "Company") (NYSE:MFC) during the period from January 1, 2008 through June 19, 2009.
For further information, please contact Roy L. Jacobs, Esq. toll-free at 1-888-884-4490 or by e-mail to rjacobs@jacobsclasslaw.com.
The investigation focuses on allegations that the Company failed to fully disclose the risk with respect to its sale of variable annuity guarantees and its segregated fund businesses. Indeed, the Company has been forced to support the guarantees on these products with increased cash reserves and has suffered huge losses in the 4th quarter of 2008 and the first quarter of 2009.
On June 19, 2009, after the market closed, the Company revealed that it received an enforcement notice from the Ontario Securities Commission (the "OSC") relating to the Company's disclosure of risks concerning its variable annuity guarantee and segregated funds business. The OSC notice indicated that the preliminary conclusion of OSC staff was that the Company failed to meet its continuous disclosure obligations related to its exposure to market price risk in its segregated funds and variable annuity guaranteed products.
If you purchased Manulife common stock during the period from January 1, 2008 through June 19, 2009, have suffered a loss, whether or not you still hold you shares and you are interested in discussing your rights free of charge, please contact Roy L. Jacobs. Mr. Jacobs will be glad to personally speak with you.