Ex-Worker Sues Bankrupt LandAmerica Over Depleted Stock

Law360, New York (March 25, 2014, 4:44 PM EDT) -- A former employee of LandAmerica Financial Group Inc. filed a proposed class action in Virginia federal court on Thursday, claiming the company's poor management rendered his and other workers' stock worthless after the title insurance company collapsed into bankruptcy.

Timothy O'Grady claims high-ranking executives at the Glen Allen, Va.-based company failed to take steps to protect its employee benefit pension plan, despite signs of market disruption that were obvious as early as February 2008, during the early throes of the financial crisis.

“And yet, for at...
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