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Case Status:    SETTLED
On or around 06/21/2017 (Ongoing date of last review)

Filing Date: April 04, 2014

According to the complaint filed on April 04, 2014, the suit was filed on behalf of all persons who purchased the securities of Genworth between February 3, 2012 and April 17, 2012, inclusive (the "Class Period"), against Genworth and certain of its current and former officers and/or directors for violations of the Securities Exchange Act of 1934 (the"1934 Act"). These claims are asserted against Genworth and certain of its officers and/or directors who made materially false and misleading statements during the Class Period in press releases, analyst conference calls, and filings with the SEC.

Genworth is a financial security company. The Company provides insurance, wealth management, investment and financial solutions.

Throughout the Class Period, defendants violated the federal securities laws by disseminating false and misleading statements to the investing public. As a result of defendants' false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period, trading as a high of $9.54 per share on February 21, 2012.

On this news, the Company's stock price dropped $1.83 per share on April 18, 2012, to close at $5.87 per share, a one-day decline of nearly 24% on volume of 75.3 million shares.

As a result of defendants' false and misleading statements, Genworth common stock traded at artificially inflated prices during the Class Period. However, after the above-alleged revelations of the true but undisclosed facts seeped into the market, the Company's common stock experienced exorbitant selling pressure, sending its price down nearly 39% from its Class Period high.

On July 25, 2014, the Court issued an Order appointing lead plaintiff and approving lead counsel. Lead plaintiffs filed an amended complaint on October 3.

On June 16, 2015, the Court issued an Order denying Defendants' motion to dismiss.

COMPANY INFORMATION:

Sector: Financial
Industry: Insurance (Life)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: GNW
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 14-CV-02392
JUDGE: Hon. Judge Hellerstein
DATE FILED: 04/04/2014
CLASS PERIOD START: 02/03/2012
CLASS PERIOD END: 04/17/2012
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cypen & Cypen
    777 Arthur Godfrey Road, Suite 320, Cypen & Cypen, FL 33140
    305/532-3200 305/535-0050 ·
  2. Glancy Binkow & GoldBerg LLP
    1925 Century Park East, Suite 2100, Glancy Binkow & GoldBerg LLP, CA 90067
    310-201-9150 · info@glancylaw.com
  3. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
  4. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 14-CV-02392
JUDGE: Hon. Judge Hellerstein
DATE FILED: 10/03/2014
CLASS PERIOD START: 11/03/2011
CLASS PERIOD END: 04/17/2012
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cypen & Cypen
    777 Arthur Godfrey Road, Suite 320, Cypen & Cypen, FL 33140
    305/532-3200 305/535-0050 ·
  2. Labaton Sucharow LLP
    140 Broadway, Labaton Sucharow LLP, NY 10005
    212.907.0700 212.818.0477 · info@labaton.com
  3. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
No Document Title Filing Date