 | ||
|
| Home Annual/Quarterly Updates About Us
|
Security Capital Assurance, Ltd. Summary: According to a law firm press release, on December 7, 2007 a class action wason behalf of all persons who purchased the common stock of Security Capital Assurance, Ltd.
The complaint charges Security Capital and certain of its officers and directors with violations of the Securities Act of 1933. Security Capital, through its subsidiaries, provides financial guaranty insurance, reinsurance, and other credit enhancement products to the public finance and structured finance markets in the United States and internationally.
On or about May 25, 2007, Security Capital filed a Form S-1/A Registration Statement with the Securities and Exchange Commission for the Secondary Offering. On or about June 6, 2007, the Prospectus with respect to the Secondary Offering, which forms part of the Registration Statement, became effective and more than 9.6 million shares of Security Capital common stock were sold to the public at $31.00 per share, thereby raising more than $300 million.
The complaint alleges that the Registration Statement and Prospectus contained untrue statements of material facts because they failed to disclose that: (i) the Company was materially exposed to extremely risky structured financial credit derivatives; and (ii) the Company was materially exposed to residential mortgage-backed securities relating to sub-prime real estate mortgages.
INDUSTRY CLASSIFICATION:
SIC Code: 6351
Sector: Financial
Industry: Insurance (Prop. & Casualty)
| COMPANY/ISSUER NAME: | Security Capital Assurance, Ltd. |
| COMPANY/ISSUER TICKER: | SCA |
| COMPANY WEBSITE: | http://www.scafg.com |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| Brickman Investments, Inc., et al. v. Security Capital Assurance, Ltd., et al. | |||||||||||||||||
| |||||||||||||||||
| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Class Action Complaint For Violations Of Federal Securities Laws | |||
| Type: Complaint | Date on the document: 12/6/2007 | ||
| OTHER DOCUMENTS | |||
| Class Action Complaint - Jury Trial Demanded | |||
| Case Name and/or Number: Robert Clarke, et al. v. Security Capital Assurance, Ltd., et al. | |||
| Type: Complaint | Date on the document: 01/08/2008 | ||
WARNING AND DISCLAIMER OF LIABILITY:
The information included on this Web site, whether provided by personnel employed by Stanford Law School or by third parties, is provided for research and teaching purposes only. Neither Stanford University, Stanford Law School, nor any of their employees, agents, contractors, or affiliates warrant the accuracy or completeness of the information or analyses displayed herein, and we caution all readers that inclusion of any information on this site does not constitute an endorsement of the truthfulness or accuracy of that information. In particular, this Web site contains complaints and other documents filed in federal and state courts, which make allegations that may or may not be accurate. No reader should, on the basis of information contained in or referenced by this Web site, assume that any of these allegations are truthful.
Go to Search page | Go to Case Index page | Back to Top