Securities Class Action Against MGIC Thrown Out

Law360, New York (February 19, 2010, 1:12 PM EST) -- A federal judge has thrown out a putative securities class action that accused mortgage insurer MGIC Investment Corp. and several executives of misleading the public about the company's health ahead of a mortgage meltdown-related stock crash that cost investors more than $500 million.

Judge Lynn Adelman of the U.S. District Court for the Eastern District of Wisconsin signed off on a decision and order Thursday dismissing the consolidated litigation, though she also said lead plaintiff Fulton County Employees Retirement System could seek leave to file an...
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