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.
AssuranceAmerica Suffers Third-Party Data Breach, Customer Data Exposed 
Florida Supreme Court Ruling Could Mean New Pressure to Settle High-Dollar Lawsuits 
NAIC Says Data Taken in Hack Has Been Published Online 
St. Pete Mayor Accepts $275M Bid to Redevelop Tropicana Field Area for Housing 
