NEW YORK, April 17, 2014 /PRNewswire/ -- Frank & Bianco LLP is investigating possible securities fraud claims against Genworth Financial, Inc. ("Genworth's" or the "Company") (NYSE: GNW) and certain of its officers and/or directors, on behalf of purchasers of Genworth's securities between February 3, 2012 and April 17, 2012, inclusive (the "Class Period").
The investigation concerns possible violations of the federal securities laws related to materially false and misleading statements or omissions of material information during the Class Period, regarding the Company's ability to complete an initial public offering ("IPO") of its Australian mortgage insurance business in 2012.
On April 17, 2012, the Company issued a press release announcing its intention to delay the IPO until early 2013. On this news, the Company's stock price dropped $1.83 per share, or almost 24%, on heavy trading volume.
If you purchased Genworth securities within the Class Period, and you wish to discuss this investigation, or have any questions concerning this notice or your rights or interests with respect to these matters, please contact us.
SOURCE Frank & Bianco LLP