IRVINE, Calif., April 26, 2017 /PRNewswire/ -- Khang & Khang LLP (the "Firm") announces the filing of a class action lawsuit against Citizens, Inc. ("Citizens" or the "Company") (NYSE: CIA). Investors who purchased or otherwise acquired shares between March 11, 2015 and March 8, 2017, inclusive (the "Class Period"), are encouraged to contact the Firm in advance of the May 15, 2017 lead plaintiff motion deadline.
If you purchased Citizens shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at email@example.com.
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The Complaint alleges that throughout the Class Period, Citizens made false and/or misleading statements and/or failed to disclose that: the Company's 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 the Company's statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. On March 8, 2017, SeekingAlpha published an article claiming that some premiums paid by policyholders are sent to Citizens' transfer agent with the intention of rendering market purchases of Citizens stock – artificially inflating Citizens' stock price. When this information was released, the Company's stock price fell materially, causing investors harm according to the Complaint.
If you wish to learn more about this lawsuit, or if you have questions about this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at firstname.lastname@example.org.
This press release may constitute Attorney Advertising in certain jurisdictions.
Joon M. Khang, Esq.
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SOURCE Khang & Khang LLP