High Court Refuses Aon Investor Suit Over Delayed Fraud Notice

Law360, New York (October 1, 2012, 3:33 PM EDT) -- The U.S. Supreme Court on Monday declined to review a Seventh Circuit ruling finding that an insurance company's delay in disclosing fraud can't be blamed for the losses of shareholders who held onto stock that declined in value when the fraud was eventually revealed.

The Seventh Circuit’s March decision upheld an Illinois federal judge’s dismissal of Robert M. Anderson’s suit claiming he lost millions in 2002 when Aon Corp.’s stock dropped amid revelations that the risk management and insurance company had overstated its income over several...
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