$84M SCOR Securities Deal Gets Tentative OK

Law360, New York (August 12, 2008, 12:00 AM EDT) -- A federal judge gave preliminary approval on Monday to settlements totaling more than $84.6 million in a class action against Swiss insurance company SCOR Holding AG that arose after investors claimed the company's predecessor hid financial problems during a 2001 initial public offering.

The Public Employees' Retirement System of Mississippi, lead plaintiff in the case, filed a motion in late July asking the U.S. District Court for the Southern District of New York to approve two separate settlement agreements in the case.

SCOR agreed to pay...
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