Conseco Inc CNO Securities Stock Fraud
| Company: |
Conseco Inc |
| Ticker Symbol: |
CNO |
| Class Period: |
Aug-4-05 to Mar-17-08 |
| Date Filed: |
Aug-7-09 |
| Lead Plaintiff Deadline: |
Oct-6-09 |
| Court: |
Southern District of New York |
| Allegations: |
A class action lawsuit has been filed on behalf of purchasers of the common stock of Conseco Inc. ("Conseco" or the "Company"), between August 4, 2005 and March 17, 2008, inclusive (the "Class Period"). The lawsuit is pending in the United States District Court for the Southern District of New York against Conseco and certain of its officers and directors.
The complaint alleges that the Company, throughout the Class Period, misrepresented or failed to disclose: (1) that the revenue figures reported by the Company were materially inaccurate; (2) that Conseco's reported financial results were materially misstated and did not present the Company's true operating performance; (3) that Conseco was without the internal controls necessary to properly report its revenues and earnings; (4) that Conseco's financial statements were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP"); (5) that Conseco's shareholders' equity was materially overstated during the Class Period; and (6) as a result of the above, defendants lacked a reasonable basis for their positive statements about Conseco, its corporate governance practices, its prospects and earnings growth.
On March 17, 2008, Conseco announced that it would be restating its financial results for the years ended December 31, 2004 and 2006, as well as affected Selected Consolidated Financial Data for 2003 and 2004, and quarterly financial information for 2006 and the first three quarters of 2007. On this news, the price of Conseco's stock fell 12.9%.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
Conseco Inc CNO Securities Fraud Legal Help
If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Conseco Inc securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.
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