Hartford Wins Bid To Toss Securities Class Action

Law360, New York (September 19, 2011, 7:55 PM EDT) -- A New York federal judge on Monday dismissed a putative securities class action accusing The Hartford Financial Services Group Inc. of misstating and falsely inflating its capital position in 2008, ruling the company's regulatory filings didn't support the allegations.

In dismissing the suit with prejudice, U.S. District Judge Naomi Reice Buchwald criticized the investor plaintiffs for basing their entire complaint on a "unilateral, and ultimately unsupported, interpretation of the Hartford’s insurance filing."

“Unlike many securities class actions, plaintiffs do not rely on a single confidential witness...
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