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Case Status:    SETTLED
On or around 08/01/2005 (Date of order of final judgment)

Filing Date: June 12, 2000

According the Company’s FORM 10-Q For The Quarterly Period Ended June 30, 2005, the Company agreed to settle the case for $525,000. The Court has issued a Preliminary Order approving the settlement and the full amount was funded in February 2005. Notices have been sent to class members and the Court conducted the Final Settlement Hearing on July 26, 2005, and approved the settlement.

As summarized by the same SEC filing, in June 2000, a lawsuit was filed against the Company, its directors and its executive officers seeking compensatory damages in an undisclosed amount on the basis of allegations that the Company’s amended registration statement dated November 4, 1998 was inaccurate and misleading concerning the manner in which the Company recognized ceded insurance commission income, in violation of Sections 11 and 15 of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Specifically, the plaintiffs alleged that the Company recognized ceded commission income on a written basis, rather than amortized on a pro rata basis. The plaintiffs alleged that this was contrary to the Statement of Financial Accounting Concepts Nos. 1, 2 and 5.

COMPANY INFORMATION:

Sector: Financial
Industry: Insurance (Prop. & Casualty)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: TCHC
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 00-CV-04333
JUDGE: Hon. Allen G. Schwartz
DATE FILED: 06/12/2000
CLASS PERIOD START: 11/05/1998
CLASS PERIOD END: 08/13/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Law Offices of Charles J. Piven, P.A.
    World Trade Center-Baltimore,401 East Pratt Suite 2525, Law Offices of Charles J. Piven, P.A., MD 21202
    410.332.0030 · pivenlaw@erols.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 00-CV-04333
JUDGE: Hon. Allen G. Schwartz
DATE FILED: 09/05/2001
CLASS PERIOD START: 11/05/1998
CLASS PERIOD END: 08/13/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Fine, Kaplan and Black
    1845 Walnut Street-Suite 2300, Fine, Kaplan and Black, PA 19103
    215/567.6565 ·
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date