According to the Complaint, National General Holdings Corp. is a specialty lines insurance holding company.

The Complaint alleges that during the Class Period, Defendants made false and misleading statements and/or failed to disclose adverse information regarding National General’s business and operations. Specifically, the Complaint alleges that Defendants failed to disclose that National General, together with banking giant Wells Fargo, had engaged in a massive insurance scheme to bilk Wells Fargo customers out of millions of dollars.

On October 21, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. On November 19, the Court issued an Order granting the Motion to transfer the case. The case was transferred to the Southern District of New York under Docket 19-CV-10825 on November 22.

On January 14, 2020, Lead Plaintiff filed an amended Complaint. Defendants filed a Motion to Dismiss the amended Complaint on March 10. On January 21, 2021, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were granted leave to amend. Plaintiffs did not amend the Complaint, and on March 12, the Court dismissed the case with prejudice. Lead Plaintiffs filed a notice appealing the Court's Dismissal Order on April 9. The Court of Appeals affirmed the Court's Dismissal Order on November 29.