A class actions suit has been filed in the U.S. District Court for the southern district of Indiana on behalf of all purchasers of the 8.7 percent Trust Originated Preferred Securities publicly traded securities of Conseco Inc. and Conseco Financial Trust V. The complaint charges Conseco and some of its officers, directors and company insiders with violations of the Securities Exchange Act of 1933.
This action involves defendants’ dissemination of materially false and misleading statements concerning, among other things, artificially inflated financial results for the Green Tree finance segment of Conseco, and Conseco’s use of “gain-on-sale” accounting.
Topics Lawsuits
Was this article valuable?
Here are more articles you may enjoy.
US House Passes Bill to Extend Federal Terrorism Backstop Through 2034 
Viewpoint: Why Florida Property Insurance Rates Might (and Might Not) Keep Falling 
Why Are Property & Casualty Carriers So Profitable? 
Climate Change Keeps Adding to List of Uninsurable Assets, Allianz Executive Says 
