Law Office of Brodsky & Smith, LLC 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 all those investors who purchased or otherwise acquired shares of Meadowbrook Insurance Group, Inc. (NYSE: MIG) (“Meadowbrook” or the “Company”) between May 7, 2012 and August 7, 2013, inclusive (the “Class Period”).
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The Complaint alleges that the defendants made materially false and misleading statements, as well as failed to disclose material adverse facts including that the Company’s financial stability was severely impaired, the Meadowbrook’s financial position was not sufficiently strong to support its insurance operations, that the Company was in breach of its financial covenants, the Company lacked adequate financial and internal controls and that Meadowbrook’s goodwill was artificially inflated. After the Company delayed the filing of its most recent Quarterly Report, Meadowbrook announced on August 14, 2013 that it would take a $115.4 million non-cash impairment of goodwill in the three months ended June 30, 2013.
If you are a member of the class described above, you may, not later than
October 15, 2013,
move the Court to serve as a lead plaintiff of the class, if you so choose. If you purchased shares of Meadowbrook stock during the Class Period and wish to discuss this action, you may e-mail or call the Law Office of Brodsky & Smith, LLC who will, without obligation or cost to you, answer your questions. Please contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at
, by visiting
, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.