Financial News

Update in Lawsuit for Investors in Citizens, Inc. (NYSE: CIA) Shares Announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / December 5, 2017 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors who purchased NYSE: CIA shares against Citizens, Inc. over alleged Securities Laws Violations.

Investors, who purchased shares of Citizens, Inc. (NYSE: CIA) in February 2015 or earlier and currently hold any of their NYSE: CIA shares, should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On March 8, 2017, an article was published 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 March 16, 2017, a lawsuit was filed against Citizens, Inc. over alleged securities laws violations. The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that Citizens' brokers and pitchbooks falsely claimed that most of the funds from its insurance policies were directly invested in U.S. Treasury Bond, that funds from Citizens' insurance policies were funneled into continuous open market purchases that inflated Citizens' stock price, and that as a result, defendants' statements about Citizens' business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased Citizens, Inc. (NYSE: CIA) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

SOURCE: Shareholders Foundation, Inc.

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