A prospective class action suit has been filed against Fairfax Holdings Ltd., alleging the company omitted damaging information in its debt prospectus.
The complaint filed against the Toronto-based company Friday in U.S. District Court in Manhattan alleged the firm failed to detail its increasing liquidity problems and its growing exposure to finite reinsurance accounting investigations.
The New York-based law firm of Murray, Frank & Sailer LLP filed the suit on behalf of all who purchased debt securities of Fairfax Holdings Ltd. between March 24, 2004 and March 21 of this year.
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