Aggrieved investors have filed a class action suit against five RenaissanceRe Holdings Ltd. executives in U.S. District Court in Manhattan in connection with their possible accounting misdeeds.
The legal action follows the company's announcement that both Chief Executive Officer James Stanard and Michael Cash, a senior vice president who resigned from the company, have been given notice they face possible civil enforcement actions by the Securities and Exchange Commission.
In addition to Mr. Stanard and Mr. Cash the suit names as defendants William Riker, CEO of Glencoe Holdings Group subsidiary; John Lummis, Renaissance chief operating officer and chief executive officer; and senior executive Martin Merritt.
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