Scottish Re settles shareholders’ class action for $37.5 m

By David Marchant

16 years ago

Topics

Bermuda Fraud Insurance Investment Listed Securities

USA

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Keywords

Advest, Inc. AG Edwards & Sons Inc. Bear Stearns Bermuda Insurance Market Dean Miller

Elizabeth Murphy Fox-Pitt, Kelton Incorporated Goldman Sachs Hazel OLeary Michael Austin Michael French Norman Lamont Oppenheimer & Co., Inc. RBC Robert Chmely Scott Willkomm Scottish Re Group Stifel, Nicolaus & Company, Incorporated Wachovia Capital Markets, LLC William Caulfeild-Browne

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Scottish Re Group Ltd., several current and former officers and directors, its auditor, and the underwriters of two public offerings of the reinsurer’s shares in 2005 have agreed to pay $37.5 million in cash to settle a class action lawsuit.An order preliminarily approving the proposed settlement was issued by Shira A. Scheindlin at the U. S. District Court for the Southern District of New York on September 8, 2008.

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