Conseco, Inc. Faces Former Employee Investigation

An analysis on account of above and accepted advisers of Conseco, Inc. (Public, NYSE:CNO) apropos abeyant Employee Retirement Income Security Act (“ERISA”) Breach of Fiduciary Duty was announced.

Those who are above or accepted advisers or are a affiliate of any of Conseco’s investment affairs or accumulation administration retirement affairs and purchased or captivated Conseco, Inc. (Public, NYSE:CNO) shares or accept advice apropos to this investigation, should acquaintance the Shareholders Foundation, Inc. at Email: mail(at)shareholdersfoundation.com or alarm us at: +1 (858) 779 - 1554. Conseco, Inc. has been accused of balance artifice and according to a an analysis by a law close beneath ERISA advisers (former and current) of Conseco, Inc. (Public, NYSE:CNO) may be acceptable to book a ERISA complaint for putting banal options at accident if they can prove their employer abandoned its fiduciary assignment to them. The Fiduciary assignment refers to a company’s albatross to the humans who advance in it and if an employer puts the company’s absorption advanced of the investors’, it has broken its fiduciary duty, so the investigation.

Conseco, Inc. faces a balance chic action accusation over declared violations of Federal Securities Laws on account of purchasers of the accepted banal of Conseco Inc. (NYSE:CNO) accepted banal during the aeon from August 4, 2005 to March 17, 2008. An broker in Conseco, Inc. (Public, NYSE:CNO) has filed a proposed balance chic action accusation in the United States District Court for the Southern District of New York adjoin Conseco, Inc. and others over declared violations of Federal Securities Laws. According to the complaint the plaintiff alleges that Conseco Inc and assertive of its admiral and admiral abandoned the Securities Exchange Act of 1934 by arising amid August 4, 2005 to March 17, 2008 abundant materially apocryphal and ambiguous statements apropos Conseco’s banking performance. Then on March 17, 2008, Conseco Inc appear that it did not advance able controls over the accounting and acknowledgment of allowance action allowances and the liabilities for allowance articles and that it would accordingly be restating its banking after-effects for the years concluded December 31, 2004 and 2006, alternating with afflicted Selected Consolidated Financial Data for 2003 and 2004, and annual banking advice for 2006 and the aboriginal three abode of 2007. In acknowledgment to this announcement, so the complaint, shares of Conseco’s banal (NYSE: NCO) fell $1.30 per share, or 12.9%, from a abutting of $10.06 per allotment on March 14, 2008, the endure trading date afore the announcement, to abutting at $8.76 per share, on acutely abundant trading volume.

Conseco, Inc., amid in Carmel, IN, is the captivation aggregation for a accumulation of allowance companies operating throughout the United States that develops, markets and administers added bloom insurance, annuity, alone activity allowance and added allowance products. The Company focuses on confined the chief and middle-income markets. Conseco, Inc. (Public, NYSE:CNO) appear in 2007 Total Revenue of $4.1313billion and in 2008 Total Revenue of $4.1897billion. Shares of Conseco, Inc. (Public, NYSE:CNO) traded afresh at $3.16 per share, down from at 52weekHigh of $10.00 per share, $20.90 per allotment in 2007, and $25.49 per allotment in 2006.