Foreign Investors Booted From SCOR Class Action

Law360, New York (March 6, 2008, 12:00 AM EST) -- While certifying a class of U.S. investors, a New York federal judge refused Thursday to allow foreign investors to proceed with securities fraud claims against Swiss insurance company SCOR Holding (Switzerland) AG.

Judge Denise Cote of the U.S. District Court for the Southern District of New York partially granted a motion by plaintiffs to certify a class against SCOR for alleged Exchange Act violations, allowing only a class of U.S investors to proceed.

The Swiss reinsurance company, which was known as Converium Holding AG when it...
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