Case Page

 

Case Status:    DISMISSED    
On or around 06/14/2006 (Other)

Filing Date: July 09, 2004

On June 14, 2006, the Court entered the Mandate from the Court of Appeals for the Eleventh Circuit. According to the Mandate, the decision of the District Court to dismiss the First Amended Complaint was affirmed.

On October 14, 2004, a First Amended Class Action Complaint was filed. The plaintiff again amended the complaint, by filing another First Amended Class Action Complaint on October 21, 2004. The defendants responded by filing motions to dismiss the complaint. On June 3, 2005, the Court entered the Memorandum Opinion and Order dismissing the case. According to the Order, the plaintiff’s federal securities fraud claims were dismissed with prejudice, and all other claims asserted in the action were dismissed without prejudice. On July 1, 2005, the plaintiff filed a notice of appeal.

The original lawsuit claims that the defendants violated sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder, including rule 10b-5 of the United States Securities and Exchange Commission.

The complaint names as defendants Cumberland Casualty & Surety Company and Dorinco Reinsurance Company,Cumberland's president, Secretary and Chief Financial Officer of Cumberland and president and chief executive officer of Dorinco.

The complaint alleges that the defendants offered and sold securities to the investing public utilizing false statements which they knew or recklessly disregarded were misleading in that they contained misrepresentations and failed to disclose material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading.

Specifically, the complaint alleges that the IRMP was marketed as an account management program which would be insured against market losses after five (5) years but which was in fact not so insured.

COMPANY INFORMATION:

Sector: Financial
Industry: Insurance (Miscellaneous)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol:
Company Market: Privately Traded
Market Status: Privately Held

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: N.D. Alabama
DOCKET #: 04-CV-02162
JUDGE: Magistrate Judge T. Michael Putnam
DATE FILED: 07/09/2004
CLASS PERIOD START: 10/16/1998
CLASS PERIOD END: 07/09/2004
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Dice & Gregory, LLC
    2824 Seventh Street , Dice & Gregory, LLC, AL 35401
    888.454.2041 · sgregory@diceandgregory.com
No Document Title Filing Date
COURT: N.D. Alabama
DOCKET #: 04-CV-02162
JUDGE: Magistrate Judge T. Michael Putnam
DATE FILED: 10/21/2004
CLASS PERIOD START: 10/16/1998
CLASS PERIOD END: 07/09/2004
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Dice & Gregory, LLC
    2824 Seventh Street , Dice & Gregory, LLC, AL 35401
    888.454.2041 · sgregory@diceandgregory.com
No Document Title Filing Date
No Document Title Filing Date