Shareholder Suit V. PXRE Over Katrina Losses Nixed
By Melissa Lipman ( March 5, 2009, 12:00 AM EST) -- A federal judge dismissed a proposed shareholder class action against PXRE Group Ltd. on Thursday after ruling that the plaintiffs' claims did not show that the reinsurer had a motive to understate the company's losses initially following Hurricane Katrina in order to raise more money before credit agencies could downgrade PXRE....
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