MILWAUKEE, Nov. 6, 2014 (GLOBE NEWSWIRE) -- We are investigating possible securities fraud claims against Genworth Financial, Inc. resulting from inaccurate statements GNW made regarding its business practices, financial statements and prospects.
Click here to learn more about the investigation: http://www.ademilaw.com/case/genworth-financial-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Our investigation focuses on the extent to which GNW issued false and misleading statements regarding its business practices, financial statements, past and future business performance and prospects. Specifically, GNW reported that it had completed its Long Term Care Insurance (LTC) comprehensive claim reserve review, resulting in a reserve increase of $531 million and an after-tax earnings charge of $345 million. Chief Executive Officer Tom McInerney, who said last year that the company had adequate reserves for LTC, apologized after the company determined it actually had a shortfall, stating "I owe you an apology. In trying to explain the second-quarter LTC claim results relative to comments from the December investor call, I made a misstep when my comments shifted responsibility away from the company and me."
If you wish to obtain additional information or have information about GNW, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/genworth-financial-inc.
We specialize in securities fraud and shareholder litigation. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.