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Gamboa v. Citizens, Inc. et al
Case Number:
1:17-cv-00241
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
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May 30, 2018
Insurer Escapes Class Action Over Inflated Stock Price
A Texas federal judge has tossed a putative class action alleging whole-life insurance seller Citizens Inc. artificially propped up its stock price through fraudulent sales practices, agreeing with a magistrate judge's recommendation on grounds the investors hadn't shown the insurer had knowledge of the alleged wrongdoing.
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May 07, 2018
Securities Suit Against Insurer Should Be Axed, Judge Says
A Texas magistrate judge recommended Monday that a class action alleging that whole-life insurance seller Citizens Inc. artificially propped up its stock price through fraudulent sales practices be dismissed with prejudice, saying the plaintiffs cannot meet the high bar for pleading scienter.