HCC Settles Derivative Suit Over Options Backdating

Law360, New York (April 2, 2008, 12:00 AM EDT) -- A federal court has given its final seal of approval to a settlement between Texas-based HCC Insurance Holdings Inc. and shareholders who sued on behalf of the company over alleged stock options backdating.

The blessing of the U.S. District Court for the Southern District of Texas resolves all claims in the derivative suit over questionable grant dates and leaves the specialty insurance group with one remaining chapter in the stock options saga – the outcome of an investigation by federal regulators.

“The judge's approval of this...
To view the full article, register now.