Judge Tosses Lloyd’s Of London Investor Class Action

Law360, New York (November 8, 2006, 12:00 AM EST) -- A judge in the United Kingdom has bounced a class action lawsuit brought by Lloyd’s of London investors that accused the British government of failing to properly regulate the insurance market, resulting in massive financial losses.

On Wednesday, a judge tossed out the complaint, underwritten by more than 1,000 “names” of Lloyd’s, including politicians, businessman and philanthropists.

The insurance market at Lloyd's is comprised of syndicates that write insurance on behalf of names, the individuals who give the syndicates the financial backing.

The group had been...
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