Largest Policyholder Says SEC Action Is Not Helpful: “It’s Time For Cooler Heads To Prevail” Greg Lindberg Says
Durham NC: Attorneys for Greg Lindberg filed a motion to dismiss litigation from the Securities and Exchange Commission (SEC), pointing out that the complaint lacks any detail as to what statements in the relevant transaction documents were allegedly false or misleading.
“The SEC complaint fails to back up the false accusations with a single example of any alleged fraudulent statements made, or specific information concealed,” Mr. Lindberg’s attorneys said in the motion.
Lindberg’s legal team supplied the SEC with millions of pages and documents explaining every transaction that the SEC had questions about.
“The SEC claimed that the transactions were not disclosed, yet we supplied emails showing the transactions were disclosed to virtually everyone on the management team of the North Carolina insurers, including the Chairman of the Board of the management company,” said Lindberg spokesperson Susan Estrich.
“The SEC filed this case simply to attempt to pressure Greg Lindberg and paint a negative picture of him in the press,” Estrich said. “There was no loss to anyone.”
“I am fighting every day to ensure policyholders can access all of their benefits as soon as possible, and it’s high time for cooler heads to prevail and to do what is right for those policyholders,” Lindberg said in speaking about the Motion to Dismiss. “Policyholders don’t want more litigation....
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