Conseco, Inc. Faces Long Term Shareholder Investigation

Nov. 2, 2009 - PRLog -- A lawsuit on behalf of investors, who purchased their Conseco, Inc. (Public, NYSE-CNO) shares between August 4, 2005 to March 17, 2008, alleging violations of Federal Securities Laws by Conseco and others is currently pending in the U United States District Court for the Southern District of New York. In addition an investigation on behalf of long term investors of Conseco, Inc. (Public, NYSE-CNO), who currently hold their CNO shares, focusing on potential claims against certain directors and officers of Conseco, Inc.  is ongoing.

If you are a current long-term investor in Conseco Inc. , 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 on behalf of the above stated purchasers of Conseco Inc.  common stock against Conseco, Inc. and others over allegedly violating 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  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.

Those who are current long-term investors in CONSECO INC , 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)-779-1554
Fax:+1-(858)-605-5739
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
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Advertising. The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Any statements made in press releases, emails or over the phone by any member or personnel employed by Shareholders Foundation, Inc. or by third parties related to the Shareholders Foundation, Inc. is provided for research and guidance purposes only and are not legal advices. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.