Investor Alert: Federman & Sherwood Reminds Investors with Losses in The Phoenix Companies, Inc. of
Investor Alert: Federman & Sherwood Reminds Investors with Losses in The Phoenix Companies, Inc. of Upcoming Deadline in Securities Class Action Lawsuit
OKLAHOMA CITY--(BUSINESS WIRE)-- Federman & Sherwood announces that on April 17, 2013, a class action lawsuit was filed in the United States District Court for the District of Connecticut against The Phoenix Companies, Inc. (NYS: PNX) for possible federal securities laws violations surrounding the Company's failure to disclose adverse facts to investors about the Company's business practices, operations and prospects. More specifically, The Phoenix Companies, Inc. ("Phoenix" or the "Company") failed to disclose to its investors and the investing public that the Company: (i) improperly classified certain deposits and withdrawals of universal life and variable universal life products/insurance as part of its cash flows used in continued operations; (ii) improperly reported certain fees and interest charges; (iii) lacked adequate internal and financial accounting control; and (iv) as a result of the above, issued financial statements that were materially false and misleading at all relevant times. During the relevant period set forth below, the Complaint therefore alleges violations of Section 10(b) and Section 20(a) of the Securities Exchange Act, and Rule 10b-5 promulgated thereunder.
If you purchased The Phoenix Companies, Inc. shares between May 5, 2009 and November 6, 2012, have large losses as a result of your trades during this time period, and wish to join this litigation as a potential lead plaintiff, please contact our office as soon as possible. Investors have until Monday, June 17, 2013 to move the court for consideration as a court-appointed lead plaintiff in this action. Our firm seeks to recover damages and losses on behalf of the entire Class. Federman & Sherwood has extensive nationwide experience and expertise in prosecuting securities litigation involving financial fraud. If you wish to join this class action or have further questions, please contact:
KEYWORDS: United States North America Oklahoma
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