Ex-CRM Execs Duck Investor Suit Over Deceptive Statements

Law360, New York (May 14, 2012, 5:55 PM EDT) -- A New York federal judge on Thursday released four former executives of workers' compensation insurer CRM Holdings Ltd. from a putative securities class action that accused them of deceiving investors, saying the plaintiffs had failed to substantiate fraud and show adequate causation.

The executives —Daniel G. Hickey Jr., Martin D. Rakoff, Daniel G. Hickey Sr. and James J. Scardino — were accused of using press releases and corporate filings to provide false and misleading information about the company’s finances for nearly three years following the company's...
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