Stockholders v Symons International Group, Inc. and Goran Capital, Inc.

Stockholders Reach $1,303,750 Settlement With Symons International Group, Inc. and Goran Capital, Inc.

Case ID: 3001

Amount At Issue: $1,303,750.00

Category: Stocks

 

Last Update: 02/09/2004

Country:

 

The parties have reached a tentative $1,303,750 settlement of an action filed against auto insurer Symons International Group, Inc. (Pink Sheet: SIGC.PK) or its parent company, Goran Capital, Inc. (OTCBB:GNCNF) and certain of its officers and directors by stockholders who purchased the company's common stock between February 27, 1998 and November 18, 1999. 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. To recover under the settlement, a completed proof of claim postmarked no later than February 20, 2004, must be mailed to the claims administrator.

Any questions regarding the settlement should be directed to the claims administrator at (800) 766-3330. Claim forms may be downloaded from the settlement website. Once completed, they should be mailed to the claims administrator at:

Symons Securities Litigation
Berdon Claims Administration, LLC
P.O. Box 9014
Jericho, NY 11753-8914

The settlement will not be effective until the court grants it final approval. The court has scheduled a hearing on the matter for January 20, 2004.

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