Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Western District of Texas on behalf of investors who purchased Citizens, Inc. (“Citizens” or the “Company”) (NYSE: CIA) securities between March 11, 2015 and March 8, 2017.
The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose that: (1) Citizens’ brokers and pitchbooks falsely claimed that most of the funds from its insurance policies were directly invested in U.S. Treasury Bond; (2) funds from Citizens’ insurance policies were funneled into continuous open market purchases that inflated Citizens’ stock price; and (3) as a result, defendants’ statements about Citizens’ business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss in Citizens you have until May 15, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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