Citizens, Inc. is an American insurance holding company. The Company operates through two business segments: Life Insurance and Home Service Insurance.

According to the law firm press release, the lawsuit alleges that 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.