Investors Say Manulife Lied About Risk Management

Law360, New York (July 10, 2009, 12:00 AM EDT) -- A putative investor class has accused Canada's largest life insurance company, Manulife Financial Corp., and its executive officers of neglecting to hedge investments and disclose risks, spurring a precipitous drop in the value of its shares when its alleged disclosure failures came to light.

In the U.S. District Court for the Southern District of New York on Thursday, Abbey Spanier Rodd & Abrams LLP filed suit on behalf of investors against Manulife, Chief Executive Officer Dominic D'Alessandro and Senior Executive Vice President and Chief Financial Officer...
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