On or around 05/29/2018 (Court's order of dismissal)
Filing Date: March 16, 2017
According to the law firm press release, the lawsuit alleges defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Citizens’ brokers and pitchbooks falsely claimed that most of the funds from its insurance policies were directly invested in U.S. Treasury Bond; (2) funds from Citizens’ insurance policies were funneled into continuous open market purchases that inflated Citizens’ stock price; and (3) as a result, defendants’ statements about Citizens’ business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On May 25, 2017, the Court issued an Order appointing Lead Plaintiff and Counsel. An amended Complaint was filed on July 31. On September 28, Defendants filed a Motion to Dismiss the case. On May 29, 2018, the Court issued an Order granting Defendants' Motion to Dismiss, dismissing the case with prejudice.
Company & Securities Information
Defendant: Citizens, Inc.
Industry: Insurance (Life)
Headquarters: United States
Ticker Symbol: CIA
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.