San Diego, CA -- (SBWIRE) -- 04/22/2013 -- An investor in shares of The Phoenix Companies, Inc. (NYSE:PNX) filed a lawsuit in the U.S. District Court for the District of Connecticut over alleged violations of Federal Securities Laws by The Phoenix Companies, Inc. in connection with certain allegedly false and misleading statements made between May 5, 2009 and November 6, 2012.

Investors who purchased a significant amount of shares of The Phoenix Companies, Inc. (NYSE:PNX) May 5, 2009 and November 6, 2012 and / or those who purchased NYSE:PNX shares in 2009 and currently hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: June 17, 2013. NYSE:PNX investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of the Phoenix Companies, Inc. (NYSE:PNX) between May 5, 2009 and November 6, 2012, that the Phoenix Companies, Inc. and certain of its officers violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding the Company's business, operational and compliance policies.

The Phoenix Companies, Inc. reported that its annual Revenue fell from over $1.98 billion in 2010 to over $1.84 billion in 2011. However, The Phoenix Companies, Inc. reported that its Net Income rose over the respective time periods from $26.30 million to $47.70 million.

Effective after the close of trading on August 10, 2012, Phoenix Companies, Inc. implemented 1-for-20 reverse stock split.

Then, on November 8, 2012, Phoenix Companies Inc. announced it is postponing the release of its third quarter 2012 financial results and conference call scheduled. Phoenix Companies Inc. also disclosed that it will restate its GAAP financial statements for the years ended December 31, 2011, 2010 and 2009, the interim periods for 2011, and the first and second quarters of 2012.

Shares of The Phoenix Companies, Inc. (NYSE:PNX) declined from $29.77 per share on November 6, 2012 to as low as $24.14 per share on November 9, 2012.

On April 19, 2013, NYSE:PNX shares closed at $27.00 per share, which is significantly below its current 52 week High of $43.60 per share.

Those who purchased a significant amount of shares of The Phoenix Companies, Inc. (NYSE:PNX) May 5, 2009 and November 6, 2012 and / or those who purchased NYSE:PNX shares in 2009 and currently hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: June 17, 2013. NYSE:PNX investors should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com