MEADOWBROOK SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Class Action Against Meadowbrook Insu
MEADOWBROOK SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Class Action Against Meadowbrook Insurance Group, Inc. and Its Board of Directors and a Lead Plaintiff Deadline of October 15, 2013
NEW YORK--(BUSINESS WIRE)-- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Meadowbrook Insurance Group, Inc. ("Meadowbrook" or the "Company") (NYS: MIG) common stock between July 30, 2012 and August 8, 2013.
For more information, click here:http://zlk.9nl.com/meadowbrook-insurance-mig/.
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, and/or failed to disclose the following materially adverse facts: (a) that the Company's financial stability was severely impaired; (b) that the Company's reported goodwill was materially inflated; (c) that the Company's capital position was not strong enough to support its ongoing insurance operations; (d) that the Company was in breach of its financial covenants applicable to its credit facilities; and (e) that the Company lacked adequate internal and financial controls, including controls over outstanding claims, asset impairment charges and maintenance of an appropriate capital position.
On August 9, 2013, Meadowbrook announced it would delay filing its Quarterly Report on Form 10-Q for the quarter ended June 30, 2013. On August 14, 2013, Meadowbrook announced it would take a $115.4 million non-cash impairment of goodwill in the three months ended June 30, 2013.
If you suffered a loss in Meadowbrook you have until October 15, 2013to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/meadowbrook-insurance-mig/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
Toll Free: 877-363-5972
KEYWORDS: United States North America New York
The article MEADOWBROOK SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Class Action Against Meadowbrook Insurance Group, Inc. and Its Board of Directors and a Lead Plaintiff Deadline of October 15, 2013 originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.