Search
 

Meadowbrook Says Securities Class-Action 'Without Merit'

Meadowbrook Insurance promises to defend itself and "pursue all remedies" related to securities class-actions against it.

By Chad Hemenway | Updated on August 23, 2013

Meadowbrook Insurance says class-action litigation filed against it is without merit. 

“While we understand that it is not unusual for this type of complaint to be filed when a company experiences a material drop in the trading price of its shares, we believe that the complaint is inaccurate and the claims are entirely without merit,” says  Mike Costello, senior vice president, general counsel and secretary at Meadowbrook, in a statement. “We emphatically reject any suggestion that the Company or any of its officers violated the federal securities laws.  Accordingly, we will vigorously defend ourselves and will pursue all remedies available to us in connection with this matter.” 

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.