|By PR Newswire||
|August 8, 2014 07:45 PM EDT||
NEW YORK, Aug. 8, 2014 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Genworth Financial, Inc. ("Genworth" or the "Company") (NYSE: GNW), concerning whether the board has breached its fiduciary duties to shareholders.
In December 2013, the Company issued public statements representing that its long term care division had adequate reserves and that it had made improvements to its reserve estimating process. Then, on July 29, 2014, the Company admitted that its last in-depth review of the claims reserve was conducted in 2012. The adequacy of the Company's accounting has been called into question.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own Genworth shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Email: [email protected]
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
Attorney Advertising. © 2014 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.
SOURCE Harwood Feffer LLP
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