NEW YORK, Aug. 06, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of National General Holdings Corp. (NGHC) from August 6, 2015 through August 9, 2017, inclusive (the “Class Period”). The lawsuit seeks to recover damages for National General investors under the federal securities laws.
To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=national-general-holdings-corp&id=1978 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
If you wish to serve as lead plaintiff, you must move the Court no later than September 23, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
According to the lawsuit, defendants throughout the Class Period 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; and (3) as a result of the foregoing, defendants’ positive statements about National General’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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