NEW YORK, Sept. 20, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against National General Holdings Corp. (“National General” or the “Company”) (NASDAQ: NGHC) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired National General securities between August 6, 2015 to August 9, 2017, both dates inclusive. Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/nghc.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The lawsuit alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) National General, together with banking giant Wells Fargo, had engaged in a massive 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; and (2) while National General was concealing its participation in the fraudulent CPI scheme from investors, they were reporting revenues and earnings results that had been artificially inflated by the illegitimate proceeds from the scheme.
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.
If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/nghc or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in National General you have until September 23, 2019 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org