Insurer To Pay $219M To Settle Claims In Securities Class Action Lawsuit

Mealey's (March 14, 2016, 2:27 PM EDT) -- RICHMOND, Va. — An insurance holding company will pay $219 million to settle claims filed in a Virginia federal court that it issued misrepresentations regarding the company’s business and financial condition in violation of federal securities laws, according to a press release issued by the company on March 11 (In re Genworth Financial Inc. Securities Litigation, No. 14-682, E.D. Va.).

According to the press release, Genworth Financial Inc. will pay $219 million to investors, $150 million of which will be paid by insurers, while $69 million...
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