Quanta Wins Dismissal Of Suit Over Stock Offering

Law360, New York (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....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.