Beleaguered PennCorp moves to shore up investor confidence

D'Allegro, Joseph
August 1998
National Underwriter / Life & Health Financial Services;8/31/98, Vol. 102 Issue 35, p3
Discusses the initiatives taken by New York-based PennCorp Financial Group Inc. to try to shore up investor confidence. Suspension of cash dividend payments on stock; Reassignment of senior executives; Negative impact of denying preferred shareholders their dividends on company's rating; Net loss posted by the firm; Class action lawsuits filed against PennCorp for alleged violation of securities laws.


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