We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Genworth, Investors Reach Deal To End Suit Over $2.7B Sale

Law360 (April 5, 2018, 8:40 PM EDT) -- Investors in insurer Genworth Financial Inc. on Wednesday urged a Virginia federal judge to preliminarily approve a deal resolving their proposed class action over alleged shortcomings in the company’s disclosures about its planned $2.7 billion sale to a Chinese conglomerate.

The proposed settlement before U.S. District Judge Robert E. Payne would release Genworth and its board of directors from securities fraud claims brought by lead plaintiffs Alexander Rice and Brian James, who alleged that Genworth investors like them hadn’t been given enough info to make their...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.