21st Century Wins Partial Dismissal Of Suit

Law360 (November 10, 2008, 12:00 AM EST) -- A federal judge has partially dismissed a securities class action against 21st Century Holding Company, a publicly traded insurer whose earnings allegedly were knowingly misrepresented by the company's founder and officers in violation of federal securities laws.

The putative class of plaintiffs in the case allege in the U.S. District Court for the Southern District of Florida that in 2006 the defendants made false and misleading statements and issued financial guidance that materially misrepresented 21st Century's financial performance.

Insofar as the alleged misstatements pertained to 21st...
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