RICHMOND, Va., Nov 17, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Genworth Financial, Inc.
(NYSE: GNW) today said that one of its business units has received subpoenas
from the U.S. Securities and Exchange Commission and the U.S. Department of
Justice related to an investigation of bid-rigging involving guaranteed
investment contracts (GICs) 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.
About Genworth Financial
Genworth is a leading insurance holding company, serving the lifestyle
protection, retirement income, investment and mortgage insurance needs of more
than 15 million customers, and has operations in 24 countries. For more
information, visit http://www.genworth.com.
SOURCE Genworth Financial, Inc.
Investors: Linnea Olsen, +1-804-662-2536,
both of Genworth Financial,