NEW YORK--(BUSINESS WIRE)--
Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Citizens, Inc. (NYSE: CIA) resulting from allegations that Citizens may have issued materially misleading business information to the investing public.
On March 8, 2017, SeekingAlpha published an article stating that “Citizens sells insurance policies through a network of brokers who prey on foreign families and retirees with promises of ‘guaranteed returns’ backed by U.S. Treasuries that will secure retirements.” But, the article charged, a portion of premiums paid by policyholders is sent to Citizens’s transfer agent to make open market purchases of Citizens stock – thus artificially propping up Citizens’s stock price. On this news, shares of Citizens fell sharply during intraday trading on March 8, 2017.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Citizens investors. If you purchased shares of Citizens on or before March 8, 2017, please visit the firm’s website at http://www.rosenlegal.com/cases-1077.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar outcome.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170308006173/en/
