Robbins Arroyo LLP Is Investigating the Officers and Directors of Genworth Financial, Inc. (GNW) on Behalf of Shareholders

SAN DIEGO and RICHMOND, Va., March 2, 2015 /PRNewswire/ -- Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Genworth Financial, Inc.  (NYSE: GNW) breached their fiduciary duties to shareholders.  Genworth provides insurance, investment, and financial solutions in the United States and internationally.

View this press release on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/genworth-financial-inc-march-2015

Genworth Admittedly Lacked Adequate Internal Controls

Robbins Arroyo LLP's investigation focuses on a "material weakness" Genworth identified and disclosed in its latest Form 10-K filed with the U.S. Securities Exchange Commission on March 2, 2015. The company announced that it did not have adequate controls in place to ensure that changes made to one of its methodologies associated with the long-term care insurance claim reserves assumption was executed correctly. Due to Genworth's lack of financial controls, the company failed to identify a $44 million after-tax calculation error.

In light of this news, Robbins Arroyo LLP is investigating whether the lack of adequate internal controls constitutes a breach of fiduciary duty by Genworth's board of directors.

Genworth Shareholders Have Legal Options

Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, [email protected], or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law.  The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. 

Attorney Advertising. Past results do not guarantee a similar outcome.  

Contact:
Darnell R. Donahue
Robbins Arroyo LLP
600 B Street, Suite 1900
San Diego, Ca 92101
[email protected]
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com

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SOURCE Robbins Arroyo LLP

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