Assurant, Inc. Faces Investor Investigation Over Potential Violations Of Securities Laws

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San Diego, Jan. 23, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in shares of Assurant, Inc. (NYSE:AIZ) over potential securities laws violations by certain officers and directors at Assurant was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Assurant, Inc. (NYSE:AIZ) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements Assurant’s business, its prospects and its operations were potentially materially false and misleading at the time they were made.

Assurant, Inc. reported that its annual Revenue increased from $8.45billion for 2007 to $8.52billion in 2010. However its Net Income over the same time periods fell from $653.75million in ’07 to $279.18million for 2010.
Assurant’s third quarter Revenue fell from $2.11billion in 2010 to $2.06billion in 2011 and its third quarter Net Income dropped from $141.67million for 2010 to $75.98million for 2011.

Shares of Assurant, Inc. (Public, NYSE:AIZ) rose from as low as $17.19 per share in March ’09 to over $41 per share in December 2011.

Then on January 11, 2012 a media report said that Assurant, Inc. is among those being investigated by the New York Department of Financial Services for New York's Department of Financial Services has been probing banks and insurance companies for allegedly obtaining excessive fees on homeowners' policies that they force borrowers to pay for when their insurance lapses, said people familiar with the matter.

Shares of Assurant, Inc. (Public, NYSE:AIZ) dropped from $40.53 on January 10th to $37.80 per share during January 11, 2012.