SAN DIEGO--(BUSINESS WIRE)--Haeggquist & Eck, LLP, a leading shareholder rights litigation firm, is investigating whether certain directors and officers of National General Holdings Corp. (“National General” or the “Company”) (NASDAQ: NGHC) breached their fiduciary duties to the Company and its shareholders. If you are a National General shareholder, you are encouraged to contact Amber Eck at Haeggquist & Eck for additional information.
National General is a specialty personal lines insurance holding company and through its subsidiaries, it provides provide personal and commercial automobile insurance, recreational vehicle and motorcycle insurance, and supplemental health insurance products.
Haeggquist & Eck is investigating whether members of National General’s Board of Directors (the “Board”) failed to disclose: (1) that it, together with Wells Fargo, engaged in an auto insurance scheme in which National General forced thousands of customers to pay for redundant, unnecessary, and overly expensive Collateral Protection Insurance (“CPI”) that they did not need or want; (2) while National General was concealing its participation in the fraudulent CPI scheme, it was reporting revenues and earnings results that had been artificially inflated by the illegitimate proceeds from the scheme; and (3) as a result, National General’s statements about its business, operations, and prospects were materially false and misleading.
On August 8, 2017, Commissioner Dave Jones ordered the California Department of Insurance “to open an investigation into recent allegations that Wells Fargo and National General Insurance improperly charged consumers for ‘force-placed’ or ‘lender-placed’ auto insurance for consumers who had auto loans with Wells Fargo.” Following this news, National General stock dropped sharply.
What You Can Do
If you are a National General shareholder, you may have legal claims against its directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Amber Eck at 619-342-8000 or e-mail her at firstname.lastname@example.org. There is no cost or obligation to you.
Haeggquist & Eck, LLP is a nationally recognized leader in shareholder rights law. The firm represents individual investors in shareholder derivative lawsuits, and members of the firm have helped shareholders recover more than $1 billion of value for themselves and the companies in which they have invested.
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