May 30, 2018
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.
May 07, 2018
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.