MGIC, Execs Ask 7th Circ. To Toss Fraud Suit

Law360, New York (December 9, 2011, 9:37 PM EST) -- Mortgage insurer MGIC Investment Corp. and four executives asked the Seventh Circuit on Thursday to uphold a ruling that dismissed a putative class action accusing them of defrauding investors by making misleading comments about the company's health ahead of a merger plan and subsequent stock dive.

MGIC, along with two executives and two others working for a partner company, filed briefs asking the appeals court to follow a district court's decision that threw out the suit against them because the plaintiffs could not prove the executives...
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