Conseco Chief Executive Gary Wendt is downplaying a lawsuit filed against the company’s struggling insurance and finance firm. He denied Wednesday the suit’s allegations that it fraudulently lowered the delinquency rates on loans in an effort to conceal problems.
Wendt’s statement came in response to a Wall Street Journal report that Conseco faces a lawsuit from two pension funds alleging that it deliberately and fraudulently amended the statistics measuring how many loan customers were falling behind on their repayments. The suit, filed on behalf of the Anchorage Police & Fire Retirement System and the State of Louisiana Firefighters’ Retirement System, was originally filed last spring.
Topics Lawsuits
Was this article valuable?
Here are more articles you may enjoy.
Majority of Small Business Are Underinsured as Other Expenses Prioritized 
Allstate’s $1.7M RICO Claims Fraud Suit Merits Trial, Not Arbitration: NJ High Court 
Chubb Q2 Net Income Down 3.8% on ‘Overly Soft’ Large Account, E&S Property 
Models Stripped of Insurance Cover for Club’s Unauthorized Use of Their Images 
