Complaint alleges that Manulife violated federal securities laws

Law Offices of Howard G. Smith has filed a securities class action lawsuit on Manulife Financial Corporation (Manulife). The case was filed on behalf of all persons or entities those who purchased the securities of Manulife between March 28, 2008 and June 22, 2009.

According to Law Offices of Howard G. Smith, the class action lawsuit was filed in the United States District Court for the Southern District of New York.

The complaint alleges that the defendants (Manulife) violated federal securities laws by issuing material misrepresentations to the market concerning Manulife’s business and prospects, thereby artificially inflating the price of Manulife securities.

No class has yet been certified in this action.