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Scott+Scott Attorneys at Law LLP Investigating National General Holdings Corp.'s Directors and Officers for Breach of Fiduciary Duties - NGHC

NEW YORK, Sept. 26, 2019 /PRNewswire/ -- Scott+Scott Attorneys at Law LLP ("Scott+Scott"), an international securities and consumer rights litigation firm, is investigating whether certain directors and officers of National General Holdings Corp. ("National General") (NGHC) breached their fiduciary duties to National General and its shareholders.  If you are a National General shareholder, you may contact attorney Joe Pettigrew for additional information at 844-818-6982 or jpettigrew@scott-scott.com.

Scott+Scott is investigating whether members of National General's Board of Directors (the "Board") made false and/or misleading statements, and failed to disclose material adverse facts, about National General's business, operations, prospects, and financial health.  Specifically, Scott+Scott is investigating whether the Board failed to disclose material information, including whether: (1) National General, together with Wells Fargo, engaged in an auto insurance scheme in which National General forced thousands of customers to pay for redundant, unnecessary, and overly expensive Collateral Protection Insurance ("CPI") that they did not need or want; (2) while National General was concealing its participation in the fraudulent CPI scheme, they were reporting revenues and earnings results that had been artificially inflated by the illegitimate proceeds from the scheme; and (3) as a result, defendants' statements about National General's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On August 8, 2017, Commissioner Dave Jones ordered the California Department of Insurance "to open an investigation into recent allegations that Wells Fargo and National General Insurance improperly charged consumers for 'force-placed' or 'lender-placed' auto insurance for consumers who had auto loans with Wells Fargo."  National General was an underwriter of the insurance.  Following this news, National General stock dropped sharply.

What You Can Do

If you are a National General shareholder, you may have legal claims against National General's directors and officers.  If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or jpettigrew@scott-scott.com

About Scott+Scott

Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States.  The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.

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CONTACT:
Joe Pettigrew
Scott+Scott Attorneys at Law LLP 
230 Park Avenue, 17th Floor, New York, NY 10169
844-818-6982
jpettigrew@scott-scott.com

 

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