Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class (the “Class”) comprising all purchasers of the securities of Meadowbrook Insurance Group, Inc. (“Meadowbrook” or the “Company”) (NYSE:MIG) between July 30, 2012 and August 8, 2013, inclusive (the “Class Period”).
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, OR AT (212) 682-5340, OR BY EMAIL TO SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
Meadowbrook operates as a commercial insurance underwriter and insurance administration services company in the United States. The Complaint alleges that during the Class Period defendants issued false and misleading statements or failed to disclose that: (1) the Company's financial stability was severely impaired; (2) the Company's reported goodwill was materially inflated; (3) the Company's capital position was not strong enough to support its ongoing insurance operations in a sustainable fashion; (4) the Company was in breach of its financial covenants applicable to its credit facilities; (5) the Company lacked adequate internal and financial controls, including controls over outstanding claims, asset impairment charges and maintenance of an appropriate capital position; and (6) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.
If you are a member of the Class described above you may move the Court no later than October 14, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.
If you wish to learn more about this action or if you purchased Meadowbrook shares prior to the Class Period and have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CA
Glancy Binkow & Goldberg LLP, New York, NY
(212) 682-5340 or (888) 773-9224
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