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Investigation announced for long-term Investors in shares of National General Holdings Corp (NASDAQ: NGHC)

12-03-2019 05:59 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in National General Holdings Corp (NASDAQ: NGHC) shares over possible br

An investigation on behalf of current long term investors in National General Holdings Corp (NASDAQ: NGHC) shares over possible br

An investigation on behalf of current long-term investors in shares of National General Holdings Corp (NASDAQ: NGHC) concerning potential breaches of fiduciary duties by certain directors and officers of National General Holdings Corp was announced.

Investors who are current long term investors in National General Holdings Corp (NASDAQ: NGHC) shares, 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 for current long term investors in NASDAQ: NGHC stocks follows a lawsuit filed against National General Holdings Corp over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: NGHC stocks, concerns whether certain National General Holdings Corp directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges that the defendants failed to disclose that National General, together with banking giant Wells Fargo, had engaged in a massive insurance scheme to bilk Wells Fargo customers out of millions of dollars, that through this scheme, National General forced thousands of customers to pay for auto insurance – commonly known as Collateral Protection Insurance (“CPI”) – that they did not need or want. National General served as Wells Fargo’s CPI vendor for all aspects of the program from July 2015 until the program was discreetly terminated in September 2016, that Defendants possessed information showing that these customers already had their own insurance, but forced them to be subject to redundant, unnecessary, and overly expensive CPI policies anyway, and that in addition, while defendants were concealing their participation in the fraudulent CPI scheme from investors, they were reporting revenues and earnings results that had been artificially inflated by the illegitimate proceeds from the scheme.

Those who purchased shares of National General Holdings Corp (NASDAQ: NGHC) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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