MGIC Execs Misled Investors, 7th Circ. Hears

Law360, New York (January 12, 2012, 4:17 PM EST) -- A pension fund's attorney asked the Seventh Circuit on Thursday to revive her client's putative class action accusing mortgage insurer MGIC Investment Corp. and its executives of misleading investors about an affiliate's financial health ahead of a stock crash.

Beth Kaswan of Scott & Scott LLP argued that a lower court erred when it tossed the Fulton County Employees Retirement System's suit — which also targeted two executives of MGIC affiliate Credit-Based Asset Servicing and Securitization LLC — because Fulton had adequately shown the alleged misrepresentations...
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