Conseco Wants Union's Securities Class Suit Tossed

Law360, New York (March 15, 2010, 4:42 PM EDT) -- Conseco Inc. has asked a judge to throw out a union pension fund's proposed securities class action over a restatement of several years' financial results, saying the restatement had barely any effect on the company's stock price.

The insurance holding company and several executive defendants asked to dismiss the Plumbers and Pipefitters Local Union No. 719 Pension Trust Fund's complaint over the restatement's disclosures in the U.S. District Court for the Southern District of New York on Friday.

Before the market closed on March 28, 2008,...
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