Harwood Feffer LLP Announces Investigation of Genworth Financial, Inc.

Aug 08, 2014, 19:45 ET from Harwood Feffer LLP

NEW YORK, Aug. 8, 2014 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Genworth Financial, Inc. ("Genworth" or the "Company") (NYSE: GNW), concerning whether the board has breached its fiduciary duties to shareholders.

In December 2013, the Company issued public statements representing that its long term care division had adequate reserves and that it had made improvements to its reserve estimating process.  Then, on July 29, 2014, the Company admitted that its last in-depth review of the claims reserve was conducted in 2012.  The adequacy of the Company's accounting has been called into question. 

Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.

If you own Genworth shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Robert I. Harwood, Esq. Benjamin I. Sachs-Michaels, Esq. Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400                             (212)935-7400 Email:  bsachsmichaels@hfesq.com  Website:   http://www.hfesq.com  Follow us on Twitter: @HarwoodFeffer

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm. 

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