|[August 23, 2013]
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") (NYSE: 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, (24) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com,
or Zachary Groover at Powers Taylor, LLP, toll free (877) 728-9607, via
email at firstname.lastname@example.org.
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.
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.
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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