San Diego, CA -- (SBWIRE) -- 08/19/2014 -- An investigation on behalf of current long-term investors in shares Genworth Financial Inc (NYSE:GNW) shares was announced over potential breaches of fiduciary duties by certain officers and directors at Genworth Financial Inc.

Investors who purchased shares of Genworth Financial Inc (NYSE:GNW) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Genworth Financial officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

On December 4, 2013, Genworth Financial Inc’s Chief Executive Officer, Thomas McInerney represented that Genworth Financial Inc had "adequate long-term care reserves" as it has "refined and improved our reserving, underwriting and risk management processes based on analyzing and using our significant data on consumers underwriting and claims."

According to the investigation, on July 29, 2014, contradicting its past representations Genworth Financial Inc disclosed that it was currently "conducting a comprehensive review of the adequacy of its claims reserves" related to its Long Term Care Insurance division and on July 31, 2014, Genworth Financial Inc disclosed that "the last in-depth review of the claims reserve" was conducted in 2012. According to an analyst at Morgan Stanley, he found it curious how Genworth Financial Inc could avoid large charges while most of its peers had suffered large hits against their exposures" to long-term care.

Genworth Financial Inc reported that its annual Total Revenue declined from over $10.08 billion in 2010 to over $9.42 billion in 2013 while its respective Net Income increased from $52 million to $560 million.

Shares of Genworth Financial Inc grew from $4.32 per share in August 2013 to as high as $18.22 per share in May 2014.

On August 15, 2014, NYSE:GNW shares closed at $13.41 per share.

Those who purchased shares of Genworth Financial Inc (NYSE:GNW) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com