NEW YORK, NY / ACCESSWIRE / February 8, 2020 / Pomerantz LLP is investigating claims on behalf of investors of Genworth Financial, Inc. ("Genworth" or the "Company") (NYSE:GNW). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Genworth and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 4, 2020, post-market, Genworth announced its financial results for the fourth quarter and full year 2019. Among other results, Genworth announced fourth quarter earnings per share of only $0.05, significantly less than the consensus estimate of $0.20. In addition, Genworth advised investors that its merger agreement with China Oceanwide Holdings Group Co., Ltd., originally agreed to in 2016, had been extended to "not later than March 31, 2020."
On this news, Genworth's stock price fell $0.24 per share, or 5.84%, to close at $3.87 per share on February 5, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP