SOURCE: Kendall Law Group

Kendall Law Group

August 10, 2009 14:15 ET

Kendall Law Group Announces Securities Class Action Against Conseco Inc.

DALLAS, TX--(Marketwire - August 10, 2009) - Kendall Law Group, led by a former federal judge and former US Attorney, today announced that a lawsuit has been filed against Conseco Inc. (NYSE: CNO) for investors who purchased stock that was artificially inflated between August 4, 2005 and March 17, 2008.

Any shareholder, who purchased Conseco stock during the above time period, may move the Court to serve as lead plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by October 5, 2009. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

According to the complaint, filed in the Southern District of New York, defendants issued numerous statements regarding the Company's financial performance. These statements were materially false and misleading because defendants failed to disclose that the Company was reporting materially inaccurate revenue figures and that the Company's reported financial results were materially misstated and did not present the true operating performance of the company. Also, the Company's shareholder equity was materially overstated during the Class Period, including the overstatement of shareholders' equity by $20.6 million on December 31, 2006. As a result of these misstatements, defendants lacked reasonable basis for their positive statements about the Company, its corporate governance practices, its prospects and earnings growth.

Although every case is different, Kendall Law Group has participated in the recovery of over $800 million for defrauded shareholders. Led by a former federal judge and former U.S. Attorney, the firm has the credentials to pursue any type of complex securities litigation in the nation. If you wish to learn more about your rights as a shareholder or serving as a lead plaintiff, contact attorney Hamilton Lindley at 877-744-3728 or hlindley@kendalllawgroup.com.

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