Converium Holding AG ("Converium" or the "Company"), through its subsidiaries, is a multinational company that provides reinsurance products.

The Complaint alleges this is a class action brought on behalf of Plaintiff, holders of the registered shares of Converium residing in the United States and holders of the Company's American Depository Shares (or "ADSs"), against Defendants SCOR, S.A. and Patinex AG, alleging violations of the United States Securities and Exchange Act of 1934, as amended, 15 U.S.C. §§78m(d), 78n(d) and 78n(e). Plaintiff and the class seek immediate injunctive relief against Defendants in connection with an unlawful plan to acquire the Company by means of a hostile takeover tender offer.

NOTE: A related non-class action was filed by Converium against the Defendants alleging the same violations of the Exchange Act.

On May 08, 2007, a motion to dismiss the Complaint was filed. As the case proceeds, an Order on the withdrawal of motion to dismiss without prejudice to a renewal if the settlement should fail was entered on July 23, 2007. As a result, a scheduling Order concerning notice and hearing on settlement was entered on November 13, 2007. At the same time, a memorandum of law in support of final approval of settlement was also entered. Lastly, a Judgment settling the action was entered on February 08, 2008.