Class Certified In Investor Stock-Drop Suit Over Preferred Stock Delisting

(February 7, 2022, 1:18 PM EST) -- NEW YORK — A federal judge in New York on Feb. 3 certified an investor class in a securities class action alleging that an insurance company and certain of its officers and directors misrepresented to investors that the company’s preferred stocks would not be delisted on the New York Stock Exchange (NYSE) after an acquisition of the company’s outstanding common stock, ruling that the proposed class has met all statutory requirements for approval....