mail@shareholdersfoundation.com
Conseco Inc. (CNO) has been accused of securities fraud by a lawsuit filed on behalf investors, who purchased CNO shares between August 4, 2005 to March 17, 2008, but CONSECO INC faces also an investigation on behalf current long term CNO investors concerning possible shareholder claims.
If you are a current long-term investor in Conseco Inc. (NYSE:CNO), you have certain options and you should contact the Shareholders Foundation, Inc. at:
Email: mail@shareholdersfoundation.com
or at: +1 (858) 779 - 1554
An investor in Conseco, Inc. (Public, NYSE:CNO) has filed a proposed securities class action lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of Conseco Inc. (NYSE:CNO) common stock during the period from August 4, 2005 to March 17, 2008 against Conseco, Inc. and others. According to the complaint the plaintiff alleges that Conseco Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between August 4, 2005 to March 17, 2008 numerous materially false and misleading statements regarding Conseco’s financial performance.
Then on March 17, 2008, Conseco Inc disclosed that it did not maintain effective controls over the accounting and disclosure of insurance policy benefits and the liabilities for insurance products and that it would therefore be restating its financial results for the years ended December 31, 2004 and 2006, along with affected Selected Consolidated Financial Data for 2003 and 2004, and quarterly financial information for 2006 and the first three quarters of 2007.
In response to this announcement, so the complaint, shares of Conseco’s stock (NYSE: NCO) fell $1.30 per share, or 12.9%, from a close of $10.06 per share on March 14, 2008, the last trading date before the announcement, to close at $8.76 per share, on extremely heavy trading volume.
Conseco, Inc., located in Carmel, IN, is the holding company for a group of insurance companies operating throughout the United States that develops, markets and administers supplemental health insurance, annuity, individual life insurance and other insurance products. The Company focuses on serving the senior and middle-income markets. Conseco, Inc. (Public, NYSE:CNO) reported in 2007 Total Revenue of $4.1313billion and in 2008 Total Revenue of $4.1897billion. Shares of Conseco, Inc. (Public, NYSE:CNO) traded recently at $6.54 per share, down from its 52weekHigh of $7.04 per share, $20.90 per share in ‘07, and $25.49 per share in 2006.
Those who are current long-term investors in CONSECO INC (NYSE: CNO), have certain options and should contact the Shareholders Foundation, Inc. at:
Email: mail@shareholdersfoundation.com
or at: +1 (858) 779 - 1554
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-
Fax:+1-(858)-
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
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