Meadowbrook Insurance Shareholder Alert: Briscoe Law and Powers Taylor Investigate Possible Breaches
Aug 23rd 2013 3:51PM
Updated Aug 23rd 2013 3:52PM
Meadowbrook Insurance Shareholder Alert: Briscoe Law and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that a federal class action lawsuit has been filed against Meadowbrook Insurance Group, Inc. ("Meadowbrook" or "Company") (NYS: MIG) . The firms are investigating additional legal claims against the officers and Board of Directors of Meadowbrook during the period of July 30, 2012 and August 8, 2013 (the "Class Period").
If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zachary Groover at Powers Taylor, LLP, toll free (877) 728-9607, via email at email@example.com. There is no cost or fee to you.
In a recently filed federal class action complaint, Meadowbrook and certain of its officers and directors were charged with violating certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that among other things, defendants misrepresented and/or failed to disclose that: (a) Meadowbrook's financial stability was severely impaired; (b) Meadowbrook's capital position was not strong enough to support its ongoing insurance operations in a sustainable fashion; (c) Meadowbrook was in breach of its financial covenants applicable to its credit facilities; (d) Meadowbrook lacked adequate internal and financial controls, including controls over outstanding claims, asset impairment charges and maintenance of an appropriate capital position; and (e) due to the above, Meadowbrook's statements were materially false and misleading at all relevant times. When the above information was disclosed Meadowbrook's stock declined.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
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