Haeggquist & Eck, LLP Investigates National General Holdings Corp. Regarding Collateral Protection Insurance Scheme
October 31 2019 - 9:15AM
Business Wire
Haeggquist & Eck, LLP, a leading shareholder rights
litigation firm, is investigating whether certain directors and
officers of National General Holdings Corp. (“National General” or
the “Company”) (NASDAQ: NGHC) breached their fiduciary duties to
the Company and its shareholders. If you are a National General
shareholder, you are encouraged to contact Amber Eck at Haeggquist
& Eck for additional information.
National General is a specialty personal lines insurance holding
company and through its subsidiaries, it provides provide personal
and commercial automobile insurance, recreational vehicle and
motorcycle insurance, and supplemental health insurance
products.
Haeggquist & Eck is investigating whether members of
National General’s Board of Directors (the “Board”) failed to
disclose: (1) that it, together with Wells Fargo, engaged in an
auto insurance scheme in which National General forced thousands of
customers to pay for redundant, unnecessary, and overly expensive
Collateral Protection Insurance (“CPI”) that they did not need or
want; (2) while National General was concealing its participation
in the fraudulent CPI scheme, it was reporting revenues and
earnings results that had been artificially inflated by the
illegitimate proceeds from the scheme; and (3) as a result,
National General’s statements about its business, operations, and
prospects were materially false and misleading.
On August 8, 2017, Commissioner Dave Jones ordered the
California Department of Insurance “to open an investigation into
recent allegations that Wells Fargo and National General Insurance
improperly charged consumers for ‘force-placed’ or ‘lender-placed’
auto insurance for consumers who had auto loans with Wells Fargo.”
Following this news, National General stock dropped sharply.
What You Can Do
If you are a National General shareholder, you may have legal
claims against its directors and officers. If you wish to discuss
this investigation, or have questions about this notice or your
legal rights, please contact attorney Amber Eck at 619-342-8000 or
e-mail her at ambere@haelaw.com. There is no cost or obligation to
you.
Haeggquist & Eck, LLP is a nationally recognized leader in
shareholder rights law. The firm represents individual investors in
shareholder derivative lawsuits, and members of the firm have
helped shareholders recover more than $1 billion of value for
themselves and the companies in which they have invested.
This release constitutes attorney advertising. Past results do
not guarantee a similar outcome.
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version on businesswire.com: https://www.businesswire.com/news/home/20191031005213/en/
Haeggquist & Eck, LLP 619-342-8000 Amber Eck,
ambere@haelaw.com
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