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Genworth Gets Subpoenas

They stem from a municipal bid-rigging probe.

Genworth Financial (GNW) - Get Genworth Financial, Inc. Class A Report said one of its business units has received subpoenas from the Securities and Exchange Commission and the Justice Department related to an investigation of bid-rigging involving guaranteed investment contracts sold to municipalities.

The company said it would cooperate fully with the investigation, and explained that it has not issued, and does not currently issue, GICs to municipalities, but that its business unit provides administrative and management services to a third party that does.

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