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Quanta Wins Dismissal Of Suit Over Stock Offering

Law360 (January 27, 2009, 12:00 AM EST) -- A federal judge has dismissed a securities class action against insurance company Quanta Capital Holdings Ltd. and its top executives, saying the shareholder plaintiffs had failed to make a case for fraud.

In a 58-page order issued Monday, Judge Robert P. Patterson Jr. of the U.S. District Court for the Southern District of New York granted a motion by Bermuda-based insurer to toss the entire case.

The complaint was filed by the Washington State Plumbing and Pipefitting Pension Trust in July 2007 on behalf of U.S....
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