NEW YORK, Aug. 25, 2009 (GLOBE NEWSWIRE) -- Roy Jacobs & Associates announces that purchasers of Manulife Financial Corporation ("Manulife" or the "Company") securities between March 28, 2008 and June 22, 2009 (the "Class Period") have only two weeks left to file for Lead Plaintiff. The class action for violation of the securities laws is pending in the United States District Court for the Southern District of New York.
For further information, please contact Roy L. Jacobs, Esq. toll-free at 1-888-884-4490 or by e-mail to rjacobs@jacobsclasslaw.com. You may also visit the Firm's website at www.jacobsclasslaw.com.
The complaint alleges that Manulife made false and misleading statements regarding its ability to manage and control risk in its Segregated Fund Contracts business. In fact, contrary to the Company's own purported risk management strategy, Manulife applied no material hedging techniques to limit this risk during an economic downturn. Indeed, at the very time the risk management strategy was disclosed to the investing public, the world economic system was suffering huge negative shocks and the equity markets were highly volatile and risky. The complaint further alleges that contrary to its purported risk management strategy, Manulife built up a massive stock portfolio, which it chose to leave unhedged. This resulted in a huge decline in the funds available to guaranty the Segregated Fund Contracts obligations, forcing the Company to raise billions in capital.
If you purchased Manulife securities during the period between March 28, 2008 and June 22, 2009, have suffered a loss, (including those who purchased Manulife shares pursuant to the Dividend Reinvestment Plan) 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. All motions for Lead Plaintiff must be filed no later than September 8, 2009. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.
You may also find necessary materials relating to this case at our website at www.jacobsclasslaw.com.