Meadowbrook Shareholders Say Execs Misled Investors, SEC

Law360, Los Angeles (October 8, 2013, 6:06 PM EDT) -- Several shareholders hit Meadowbrook Insurance Group Inc. with a putative securities class action in New York federal court on Monday, saying certain Meadowbrook senior executives made materially false and misleading statements about the company’s financial condition to the U.S. Securities and Exchange Commission.

The lawsuit comes after Meadowbrook acquired ProCentury Corp. in 2008, in a transaction valued at approximately $272.6 million. The complaint raises allegations that Meadowbrook CEO Robert S. Cubbin and chief financial officer Karen M. Spaun failed to disclose that adverse market conditions materially...
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