|
Search
Search through the thousands of lawsuits, complaints and recalls on our site.
 |
Case ID: 3769 | Stocks | 10/12/2004
A class action has been filed against Converium Holding AG (NYSE: CHR), a Swiss-based company providing treaty and individual coverage for risks, and certain of its officers and directors by stockholders who purchased the company’s common stock between December 11, 2001 and July 20, 2004. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company’s securities. The stockholders seek to recover compensatory damages for the loss of value of their stock.
The complaint alleges that the Company violated Sections 10(b) and 20(a) of the Securities and Exchange Act. Specifically, the complaint alleges that: • the Company failed to disclose or misrepresented that they maintained inadequate loss reserves in its subsidiary, Converium North American On July 20, 2004, Converium announced that its second quarter financial results would be impacted by a reserve, strengthening its U.S. casualty business and announced asset impairments on the balance sheet of Converium Reinsurance. This announcement cause shares to fall $11.12 per share, or 44.4 percent to close at $13.90 per share. Since the end of the class period, Standard and Poors and AM Best have lowered their ratings on the Company.
At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Stocks Cases of Interest Centro Properties is fighting a $1 billion-plus joint class actions launched by disgruntled investors who bought in when the stock was riding high, only to find it was near collapse.
Two law firms representing Diebold Inc. investors are suing Diebold Inc., claiming the Ohio company made misleading comments about its electronic voting machine business that led to artificially high share prices. Both lawsuits seek class-action status. Both lawsuits were filed in U.S. District Court in Cleveland and claim Diebold was "unable to assure the quality and working order of its voting machine products."
A class action lawsuit has been filed in the Northern District Court of Illinois against Douglas A. Hacker and others for violations of the Investment Company Act. Class members seek compensatory damages, disgorgement of the fees paid to the investment advisors and punitive damages. A class action has been filed against clothing manufacturer Tropical Sportswear International Corporation (Nasdaq: TSIC) and certain of its officers and directors by stockholders who purchased the company's common stock between April 17, 2002, and January 20, 2003. The stockholders seek to recover compensatory damages for the loss of value of their stock.
Several class actions have been filed against technology company Datatec Systems, Inc. (Nasdaq: DATCE) and certain of its officers and directors by stockholders who purchased the company's common stock between June 26 and December 16, 2003. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. A securities class action lawsuit was commenced in the United States District Court for the District of Minnesota, on behalf of all persons who purchased Gander Mountain Company securities ("Gander Mountain" or the "Company") (NASDAQ: GMTN) pursuant to the Company's Registration Statement/Prospectus for its Initial Public Offering ("IPO") and on behalf of those who purchased their shares in the open market between April 20, 2004 and January 13, 2005, inclusive (the "Class Period"). |
|
© 2000 - 2008 Copyright. All rights reserved nola3, llc.
