We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Travelers Settles Securities Fraud Case for $77M

Law360 (January 4, 2008, 12:00 AM EST) -- Travelers Cos. Inc. has agreed to pay $77 million to put to rest a purported class action alleging insurance securities fraud resulting from the company's alleged involvement in a bid-rigging scandal, the New Mexico attorney general announced Thursday.

The lead plaintiffs, which are the state of New Mexico and its retirement systems, estimated that its losses due to the alleged insurance securities fraud approached $8 million.

Final reimbursement numbers will be worked out in the ongoing damage recovery process, according to the attorney general's office....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.