Investors, SCOR Settle Securities Case For $86.M

Law360, New York (July 29, 2008, 12:00 AM EDT) -- U.S. investors have reached an $84.6 million settlement in a class action against Swiss insurance company SCOR Holding AG, resolving their claims that the company's predecessor hid financial woes from investors during an initial public offering.

The Public Employees' Retirement System of Mississippi, lead plaintiff in the case, filed a motion Monday asking the U.S. District Court for the Southern District of New York to approve two separate settlement agreements in the case.

SCOR has agreed to pay $75 million to resolve claims arising from Converium...
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