An investigation on behalf of investors in Citizens, Inc. (NYSE:CIA) shares over potential wrongdoing at Citizens, Inc. was announced and NYSE:CIA stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/23/2018 -- An investigation on behalf of investors in NYSE:CIA shares was announced concerning potential breaches of fiduciary duties by certain officers and directors at Citizens, Inc.
Investors who purchased shares of Citizens, Inc. (NYSE:CIA) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Citizens directors breached their fiduciary duties and caused damage to the company and its shareholders.
On March 8, 2017, an article was published stating that "Citizens sells insurance policies through a network of brokers who prey on foreign families and retirees with promises of 'guaranteed returns' backed by U.S. Treasuries that will secure retirements." But, the article charged, a portion of premiums paid by policyholders is sent to Citizens's transfer agent to make open market purchases of Citizens stock – thus artificially propping up Citizens's stock price.
On March 16, 2017, a lawsuit was filed against Citizens, Inc. over alleged securities laws violations. The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that Citizens' brokers and pitchbooks falsely claimed that most of the funds from its insurance policies were directly invested in U.S. Treasury Bond, that funds from Citizens' insurance policies were funneled into continuous open market purchases that inflated Citizens' stock price, and that 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.
Those who purchased shares of Citizens, Inc. (NYSE:CIA), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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