The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of National General Holdings Corp. (“National General” or “the Company”) (NASDAQ: NGHC) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. National General became the target of an internal investigation by Wells Fargo in July 2016 during the bank’s fake account scandal. Wells Fargo was investigating the Company to determine its role in pushing unnecessary auto insurance policies on Wells Fargo’s customers. National General was also the target of an investigation by California’s insurance regulator in August, 2017, which investigated if the Company broke state laws related to forcing “lender-placed” auto insurance on customers. Based on this news, shares of National General suffered a steep drop in value.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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