Scott+Scott, LLC Announces Last Day to Move for Lead Plaintiff in Securities Fraud Class Action – September 26, 2005
COLCHESTER, Conn., Sept. 21 // — Scott+Scott, LLC (http://www.scott-scott.com) filed a securities fraud class action against RenaissanceRe Holdings Ltd. (“RenaissanceRe”) (NYSE: RNR – News) and individual defendants on August 25, 2005, and represents investors in the United States District Court for the Southern District of New York (1:05-cv-07525-UA). Purchasers of RenaissanceRe securities between January 24, 2002 and July 25, 2005, inclusive (the “Class Period”), are purported class members. RenaissanceRe is a global provider in re-insurance and insurance, maintaining its principle place of business in Bermuda. Scott+Scott has successfully litigated securities cases involving Bermudian re-insurance companies. Current information about RenaissanceRe can be reviewed in its most recent Form 10-Q, filed August 9, 2005 (http://biz.yahoo.com/e/050809/rnr10-q.html). Scott+Scott’s allegations can be reviewed at http://biz.yahoo.com/prnews/050815/nem038.html?.v=18.
If you purchased RenaissanceRe securities during the Class Period, you may qualify to serve as Lead Plaintiff, in which case a motion must be filed with the court no later than September 26, 2005. If you would like to consider serving as Lead Plaintiff or have any questions about the lawsuit, please contact Scott+Scott partner Neil Rothstein ([email protected], 800/332-2259, ext. 22 or cell 619/251-0887) or attorney Amy K. Saba ([email protected], 800/332-2259, ext. 26). Scott+Scott will provide you with case materials, answer all questions regarding your participation and assist you with other services the firm provides. There is no cost or fee to you.
RenaissanceRe, like many insurance industry companies, has been subpoenaed in recent months by state and federal regulators investigating whether companies have used finite risk products to manipulate their results. The SEC has been conducting an ongoing investigation into the restatement of RenaissanceRe’s 2001-2003 financial statements. On July 25, 2005, RenaissanceRe reported that the SEC served RenaissanceRe’s Chief Executive Officer, James N. Stanard, with a Wells Notice, indicating that SEC officials plan to recommend that charges be brought against Mr. Stanard for federal securities law violations. On September 9, 2005, Morgan Stanley downgraded RenaissanceRe.
Scott+Scott, LLC dedicates itself to client communication and satisfaction and currently is litigating major securities, antitrust and employee retirement plan actions throughout the United States. The firm represents pension funds, charities, foundations, individuals and other entities worldwide. Scott+Scott currently is litigating or investigating actions including: Investors Financial; Mercury Interactive; Unisys; Immucor; Pixar; First Bancorp (Puerto Rico); Guidant; and DOV Pharmaceuticals, among others.
Source: Scott+Scott, LLC
Set News Alert
Investing My Money: Oil and Natural Gas
Need some smart investing tips? Invest in Northstar Energy in Plano, TX. We are licensed to drill in the states of Texas and Louisiana. Contact us for great investment opportunities.
Learn Money Investing Strategies Here
Receive 2 free weeks of Investor’s Business Daily or 4 free weeks of eIBD. Visit investors.com for courses on buying and selling stocks plus other money management strategies.
Jim Cramer’s Stock Money Investment Pick
Find out Jim Cramer’s next trade before he makes it. For $349.95, get access to Jim’s personal portfolio and e-mail alerts, along with a 30-day free trial.
RNR 43.65 -1.80 News
View Detailed Quote
Delayed 20 mins
Providers – Disclaimer
Related News Stories
· RenaissanceRe To Participate in Fox-Pitt, Kelton ‘Bermuda in Boston’ Panel Discussion – Business Wire (Wed Sep 14)
· Katrina Updates: Cendant, DrugMax – AP (Tue Sep 13)
· ACE: Katrina Losses $450 to $550 Million – AP (Mon Sep 12)
· Financial Stocks in Motion – at TheStreet.com (Mon Sep 12)
· By industry: Banking, Insurance, Law
· Gulf Oil Refineries, Rigs Hunker Down – AP (Wed Sep 21)
· Dow Loses 103, Nasdaq Falls 25 on Rita – AP (Wed Sep 21)
· Judge OKs $6.1B in WorldCom Settlements – AP (Wed Sep 21)
· CEO: Oracle to Slow Shopping Spree for Now – AP (Wed Sep 21)
· Most-emailed articles
· Most-viewed articles