Federal Judge Dismisses Bermuda Reinsurer’s Securities Fraud Suit

Mealey's (April 1, 2020, 2:47 PM EDT) -- NEW YORK — A Bermuda-based reinsurer’s securities fraud lawsuit was dismissed March 25 by a New York federal judge because the underlying alleged transaction was not a “domestic” transaction under the Securities Exchange Act (SEA) (Cavello Bay Reinsurance Limited v. Kenneth Shubin Stein, et al., No. 18-11362, S.D. N.Y., 2020 U.S. Dist. LEXIS 54184)....