Argo, Hedge Funds Reach Accord Over Hurricane Losses

Law360, New York (March 13, 2012, 12:55 PM EDT) -- Argo Group International Holdings Ltd. has reached a settlement with a group of 19 hedge funds over claims the reinsurer downplayed huge losses from hurricanes Katrina and Rita in a 2005 private stock offering, a New York federal judge said Friday.

U.S. District Judge Richard J. Sullivan dismissed the case in a one-page order. Details on the proposed settlement were not immediately available Tuesday, and attorneys for Argo and the plaintiffs were not immediately available for comment.

The settlement would resolve claims that PXRE Group Ltd.,...
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