Lack Of Scienter Dooms Securities Law Claims Against Auto Insurer, Execs

Mealey's (January 26, 2021, 2:12 PM EST) -- NEW YORK — Lead plaintiffs in a securities class action lawsuit against insurer National General Holdings Corp. and certain of its senior executives have failed to plead sufficient allegations of scienter in alleging that the defendants engaged in illegal activities in connection with a force-placed automobile insurance program scheme in violation of federal securities law, a federal judge in New York ruled Jan. 21....