Insurer Southern Farm Loses Bid To Arbitrate Investor Suit

Law360, New York (June 3, 2011, 1:52 PM EDT) -- A Florida federal judge on Thursday denied Southern Farm Bureau Life Insurance Co.'s bid to arbitrate a group of shareholders' securities fraud and breach of contract suit claiming the insurer underpaid when it bought out the group's stake in the company.

U.S. District Judge Mary Scriven ruled that Southern Farm had waived its right to arbitration by not pursuing it earlier in the derivative suit, which was filed in 2006 on behalf of Plaintiffs' Shareholder Corp., an entity created for the benefit of plaintiffs in an...
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