Hynes Keller & Hernandez, LLC is investigating whether the Board of Directors of Citizens, Inc. (NYSE:CIA) breached their fiduciary duties to shareholders.
On March 8, 2017, Seeking Alpha published an article stating that “Citizens sells insurance policies through a network of brokers who prey on foreign families and retirees with promises of ‘guaranteed returns’ backed by U.S. Treasuries that will secure retirements.” But, the article charged, a portion of premiums paid by policyholders is sent to Citizens’s transfer agent to make open market purchases of Citizens stock – thereby artificially propping up Citizens’s stock price.
Shareholders interested in seeking to recover damages on behalf of CIA and to implement corporate governance measures designed to prevent future misconduct should contact the firm.
If you hold CIA shares and you would like to discuss your legal rights, please email the firm at info@hkh-lawfirm.com. You can also contact us by calling Michael J. Hynes at (484) 875-3116 or by sending an e-mail to mhynes@hkh-lawfirm.com.