Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Citizens Inc (NYSE: CIA) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of Citizens Inc (NYSE: CIA) concerning whether a series of statements by Citizens Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On March 8, 2017, an article published by Seeking Alpha claimed that Citizens sells insurance policies through a network of brokers who prey on foreign families and retirees with promises of “guaranteed returns” backed by U.S. Treasuries. The article also alleged that Citizens was using a portion of the premiums paid by policyholders to make open market purchases of Citizens stock—artificially propping up the Company’s stock price.
Following this news, NYSE: CIA has fallen as much as $1.33, or 15.74%, during intraday trading on March 8, 2017.
Based in Austin, Texas, and founded in 1969 Citizens Inc through its subsidiaries, provides life insurance products in the United States and internationally.
If you purchased shares of Citizens Inc (NYSE: CIA) on or before March 8, 2017, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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